In my current company it all depends on which department you work for. The department I work for is a functional organization. I know most engineers in other departments are assigned to a project. In other departments they have engineers jump from one department to the next based on the projects assigned. I personally view this as both good and bad. I believe it’s good experience, and make a lot of connections. It also give you a chance to grow within the company because you will learn a lot. On the other hand there can be a lot of miscommunication, and a lot of pressure.