Pros
HP is good at what they do. They have a ton of training opportunities. They treat employees like family and are very forgiving of mistakes, especially early in your career. They also do not make cutd often to preserve profit. They try to hold on to salaried employees as best as possible in tough times.
Cons
The pay is not enough for the 60hr+ weeks. The compensation really sucks until you hit five years. The work life balance does not exist. They pretend having a family is possible, but it only is if you have a stay at home wife. Women, forget about it. There are very few successful women in HP outside of estimating and they definitely don't have kids. If you care more about money than being a presence in your child's life than this is the company for you.