Sold its soul when floated and turned staff into robots
Pros
Lots of great, committed people in my department creating very friendly atmostphere. Getting the days off/shifts you wanted (within reason) was generally fairly easy as long you planned ahead. Relaxed policies towards internet use and watching sport/television in office helped create a relaxed atmosphere and made quiet periods more enjoyable.
Cons
Unsocialble hours with absolutely no reward for working them. Working Xmas day didn't even get time and a half. Career progression/promotion is totally unfair and based on location and making sure the department flow chart doesn't get messed up. Because my department had a group of loyal people who stayed for 8-10 years, very few positions to get promoted opened up in the London office. Instead of changing the flow-chart they decided to let some brilliant, talented staff be held in their starting role and wasted for 5-10 years while someone could join the Stevenage office and get promoted to team lead within months simply because the flow-chart opened up in that office. The market management console got outdated very quicky and upgrades were woefully slow in coming. If there was a workaround then according to managment it didn't need upgrading, even if it meant a task which should take seconds could take an hour. Had fabulous staff events when I started in 2003, summer & Xmas parties, all you can drink racedays/golf days, after work drinks/parties for individual departments. Pretty much all of these disappeared as time went on to the point where they didn't even have a Xmas party the year before I left.