Pros
If your manager likes you life is easy. Very easy to get away with doing anything other than something. You may have no skills but if you have a loud mouth you will go far. Management is very competent and OE Surveys are completely anonymous. Promotions are fair and managers have keen awareness of what their employees do day in and day out. The new project execution model works great! Despite millions of dollars being wasted on several large IT projects that went through months of planning, I'm confident that there will be no RIFs.
Cons
Too many employees on H1-B Visas. Benefits are quickly being wittled down to nothing. Opportunities to advance are limited. Employees are slowly but surely being replaced by contractors. I'm expecting to be unemployed within one year.