Pros
They value their engineers and encourage contributions to their I.P., which is how it should be. It really was a great place to work while they had a large operation running here in Raleigh. They make sure their engineers all have a quiet place to work privately if they need to work by having offices and doors for most of their engineers above a certain level, yet also provide enough meeting rooms and common areas so that there is room for team discussions. It was a fun, great place to work, and a highlight of my career while I was there. The office building where I worked has been completely dismantled and no longer bears the Qualcomm logo.
Cons
The only real downside is that if top management makes a poor business decision, which is something that every business faces from time to time, everyone suffers, but the bad stuff rolls downhill and the ones making the lousy decisions stay on, but thousands of others lose their jobs, which is what happened to my job and over a thousand others. That said, the company still took very good care of all of us and made sure we found work with a generous package, however, so Qualcomm really did show that they care about their people.