Pros
Great work culture, very employee friendly with lot of trust shown towards the employees. Good amount of benefits and can easily maintain a good work life balance. Come in and go out anytime, as long as you are delivering no one cares on how you got it done. Most of the managers are very open minded and do not micro manage.
Cons
No great work. Hardly challenging. Very few teams are probably involved in innovative work. Rest is mostly maintenance or minor feature additions. This is especially true for Bangalore. Very slow processes and if you need cross team interactions it can take quite long to the point of total frustration. Career development is very slow. With the business not doing so well, compensations and annual hikes aren't great either. Bad management decisions in terms of vision and strategy. Yearly lay offs aren't helping either with employee moral quite low these days.