Pros
The company has improved markedly over the past 10 years. While there is still cost-cutting during downturns, there is less kneejerk cost cutting. The company is now leading the industry instead of being the perpetual laggard and has a healthy profit margin and cash flow. Sanjay and his team has done a good job with this transformation. There is more focus on work-life balance and on employee satisfaction and feedback as well which is positive and real pressure is being applied on departments that are lagging in either. Some departments suffer from a dog-eat-dog culture of toxic politics and constant scheming, kingdom-building and maneuvering rather than collaboration. Other departments truly work as a team, everyone pulling in the same direction. The good news is that, being a large company, there is generally an opportunity to move to a different/better department if your current one is not a good fit.
Cons
Your experience will still, to a very large degree, depend on your managers and your VP. My experience with different departments has been day and night, so make sure to ask employees in the department you're planning on joining for their honest feedback. While there is much more focus on work-life balance and employee satisfaction, there are still departments that are largely either unable, or unwilling, to improve either. Some departments are very spread out geographically, which drives a lot of meetings at night for US employees when having to collaborate with Asia, and often you will also have meetings early in the morning - bookending a very long workday. There is often some flexibility to take some time off during the day, but that will largely depend on your local management - again, your experience will be entirely dependent on your immediate managers and the VP and how they decide to run things. Same goes for the work culture, as mentioned, some departments have a very toxic culture of political scheming, other truly collaborate and pull-together - again your experience will be very different depending on where you are.