Pluspunten
Now you can only work 40 hrs/wk and feel good about it, even after your boss demands you to work more! Why? Well since the execs have decided to only enrich themselves by taking away the yearly bonus for all engineers at a senior level or below, those of us in that bottom 90% no longer have an incentive to control operating costs, meet milestones, or even work hard anymore.
Minpunten
The company has continued (overtime compensation, pension, health coverage), and will continue (bonuses, raises with promotions) to widdle away benefits until the only benefit they have to offer their employees is a base salary. I'm sure they'll figure out a way to take that away at some point too, though, since they don't even currently pay most of their employees salaries at average market rates.