Pros
There are pockets of people that are eager to collaborate, and groundswells of change in the works. There are also side programs that are forward thinking (innovation challenge), but are limited in their follow-through. Standard large company benefits package (nothing too special here). Office space upgrades are in the works, which will be nice when it finally gets to the cubicles.
Cons
Unfortunately, middle-management is still not getting what needs to change to step into the future. It's a stodgy, slow, process-driven company where you can coast for a long time. Expect a lack of technology (with some exceptions for inherently high-tech fields). Often you won't get recognized for good work done though- you must play the corporate game (favorites, rub elbows, go above and beyond to fulfill manager's personal goals) to get anywhere. Expect any new initiative to take 5 years to ever reach you.