Pros
Pay and benefits are the best in the area, probably the state. Other employees are friendly, and overall it's a very competent workforce.
Cons
Management. Leadership. Work-life balance. You will be constantly buried in a to do list that will never get shorter until you take a different job (by choice or by reorg) at which point you will still do significant amounts of your old job for 2-3 months.
Reorgs here are almost always not headcount reductions, but they do involve a significant fraction (50% and up) of employees getting essentially laid off, with some period of time (3-4 months) to find a new job at Lilly. From what I can tell, every department is performing these every 2-2.5 years, some more often. Two in a year is rare, but does occur.