Pros
Like most have stated, good, hard working people, especially on the frontlines. Decent benefits. Decent office locations.
Cons
Unfortunately there are many but for the sake of brevity I will list but a few. Morale is awful all around and management consistently fails to see where the fault lies when things don't go as planned. Annual (sometimes semi-annual) layoffs, as MANY have stated, are a serious problem. People who have been in the same position for 3-5 years are seemingly let go to make room for younger folks straight out of college who are paid less then the folks before them. It seems to have very little to do with performance in many cases. You are also at risk if you have any issues that may result in a leave of absence. I have seen many great colleagues let go within 6-8 months after recovering from a serious illness or family problem. Workloads for multiple departments are incredibly strenuous. The numbers game is very much an issue here and staffing never quite seems adequate (often a result of the aforementioned layoffs). Expect to put in a lot of overtime to get anything done. Promotions are spotty at best for many and promises are often broken.