Pros
Open Framework and employee empowerment limited by excess process and layers of management. Culture is under considerable pressure with layoffs and reductions. Great place for a college student but if you are over 50 they want to get you out of the company. The loss of margins in their routing and switching business will cause many years of pain.
Cons
Too many directors, VP and SVP's protecting turf and process. Chambers blew it with Wall Street but the board gave him his job again for 3 years which is something many employees don't understand since all stock options are under water and stock options are gone. The story of being easier to do business with Cisco is complete BS at the transaction level as there are no changes in process to get deals done. If you complain at Cisco you are put on a black list by executives. They don't want to hear bad news so why complain if you want to protect your career?