Pros
The pay and benefits are good to very good, although benefits have decreased for new employees hired over the past 5 - 10 years. In some positions, particularly in manufacturing in the satellite PCC business, there is a good deal of autonomy, both for management and hourly employees.
Cons
Upper management almost refuses to hire people when somebody leaves the company. There is an obsession with productivity metrics that drives all decision making, beyond any reason or logic. Plants are staffed at such low levels, it becomes somewhat of a safety issue, in my opinion. Most shifts, if manned at all, are manned by only one person. A serious accident during one of these minimally staffed shifts could be catastrophic. Even with the minimal staffing, the upper executives of the company insist upon (demand) that labor intensive "lean initiatives" be met. Employee morale is very low and continues to decrease each year, as upper management squeezes the vice hard. Paper is a dying business, which is also a big part of the problem with this business.