Pros
This is a very exciting and rewarding company to work for. Considering how long CA Technologies has been around, you have many opportunities to work with all kinds of products and technologies, ranging from the new up-and-coming JVM/JavaScript tech stacks all the way to core legacy software that's been running some of the biggest enterprises out there. The teams are full of bright people who are willing to work with you and mentor you. Some teams are fairly fast-paced where innovative people will thrive, and others work at a different angle which would suit people more interested in maintaining software and working directly with customers. Either way, you can be sure that you will be challenged to do your best, and be recognized for your successes as well. The company has a pretty good compensation system for acknowledging people who perform. Whether it be technical or process-related, managers do a good job of identifying those who really take their work seriously, and offer fantastic career advice.
Cons
There is too much turbulence and uncertainty in the upper levels of management. It seems like new leaders are brought in every few months, and everyone tries to throw in their own two cents. This causes a lot of churn since every change to upper management usually means a disruption in the lower levels of the company. It's understandable that a big company needs to evolve to survive in the market, but too much change has a negative effect on your employees. Layoffs and cuts are all too common. Depending on what area of the company you are assigned to, or if you are not working on the "latest thing", then your chances of being caught up in the next round of layoffs seemingly increase. This has a big impact on the culture, where people are weary of when the next big cut is coming. The very top talent that the company wishes to acquire and retain ends up voluntarily leaving as a result.