Pros
You can gain some valuable experience because there's never enough headcount to properly allocate work. You can sometimes get different exposure that way. Though you'd never get paid relo unless you meet criteria mentioned below, the parent company is located in many countries throughout the world. Geographic transfer possibilities are pretty good.
Cons
You are treated differently if you are not generally within the company's ideal employee blueprint: Spanish, male, and well-connected with old crony mafioso type senior leaders. You will likely experience difficulties if you are gay, female, or don't hail from Spain. You'll probably be treated ok if you are Spanish and male, but if you're not well connected you probably still won't have a future there. Goals are not well articulated. Development is not encouraged. You are sometimes asked (in the best case scenario) to ignore best practices and (in the worst case scenario) to break laws. Worklife balance is grossly defied. The current approach is to use psychology to make one think that they're inferior and need to work late and do double the work to prove themselves - but many years later, there won't be any change. Once the person figures it out that their efforts to succeed were pointless, they quit and are replaced with fresh blood to repeat the process. Meetings are always held late, with unprepared participants, and plenty of shouting/swearing/obscenities. Harrassment of all types runs rampant in this environment. Communications, policies, and even training courses are adapted to Spanish law/language/style, and are frequently not translated to local language and practices, regardless of where you are or how large your division is. Office conditions are extremely dated and dirty - rodents like mice and roaches are recurring problems. Management struggles for months to make decisions, then leaves teams with no time to implement quality solutions. Bribery is welcome and sometimes encouraged. Conflict is highly encouraged. Communication is non-existent.