Yahoo

Wonderful facilities and location, excellent benefit packages, friendly workers with a sense of fun. Some teams are doing great things with new products. Some very talented individual engineers. Very strong CEO (also a con).

CEO has way too much control. Fingers in all pies, with no apparent trust of her lieutenants or others further down the hierarchy. Lack of real leadership at all levels below CEO leaves a gaping hole in the company. No one knows what Yahoo! is anymore. Ever-changing priorities and re-orgs make goal setting meaningless and leave people feeling vulnerable and thus disengaged. This is a culture of 'put your heads down and try not to be noticed too much... unless you are praising the CEO'.

Hire better product managers—visionary people, rather than compliant people as we currently have.

Find a new model to reward that generates collaboration instead of competition.

Seek out the REAL leaders in the org—you'll find many at the bottom of the organization, and remove the Yes-Men who are more interested in their own careers than the health of their groups, or the business as a whole.

Take terrifying risks.