Pros
The corporation originally was based on a high degree of autonomy within each of the individual operating units. The corporate offices were primarily a efficient financial mechanism to support the growth of the divisions. A family atmosphere was strongly promoted and respect for the individual was very good. Over the past several years however, bottom-line at all costs thinking has been the norm - to a very high degree, many of the original principles are slipping away quickly.
Cons
One - there is no visibility on future of the individual employee's career. Bottom-line at all costs thinking has become the norm. Although this has been sold as the best path to enhance shareholder value, many times margins have slid through "meat-ax" plant closures. I would be careful to have some candid talks with current employees before accepting a position. Check Ametek's history of acquisitiion and closure. I personally know of colleagues who accepted transfers to locations that were ceased less than 6 months after a move. As an investor, I sold my holdings 2 years ago and have no plans to repurchase. If you like the GE model, this may be the place for you!
