Pluspunten
Opportunity to work on some really exciting cutting edge technology as well as learn and hone your skills. Current CEO genuinely cares about the company and is not just there to bide time before deploying the golden parachute. Current executives are starting to be aware of the problems (outlined in the two sections below) and may be able to turn the company around.
Minpunten
Non-existent raises and bonuses (not existent because of how poorly the company is currently performing). Huge discrepancy between people when it comes to responsibilities and compensation. You may be working like a dog and be responsible for a number of things, all while getting paid less than a person (same role and title, but different team) who is doing 20% of what you do while getting paid more. Frustrating lack of technical leadership. Most of the middle management really lacks technical skills which is unacceptable for an engineering company. (Many ASIC managers are not capable of any technical contribution and some lack understanding of some absolutely fundamental concepts). As a result, a lot of managers solve their problems by simply throwing more people at the issues. This empire building attitude creates large teams with a lot of weak engineers instead of lean, agile teams with strong engineers. During my past years with the company I have seen far more good people leave than join. A lot of groups have family (mafia) like relationships within them. While this may be a good thing because people have a lot of friends at the office, it does not promote a healthy, critical look at the teams (i.e. everyone is family; there are no strong or weak people). HR heavily influences promotion cycles which is highly demotivating and leads to a "government job" attitude at the workplace. Why work harder when you'll get your promotion anyways after x-number of years? This, again, does not encourage good people to stay at the company and is not a trait of a high-tech business.People are far more interested in keeping their job than seeing the company succeed.