Pros
Fantastic benefits (although slowly disappearing), great 401k matching, good health plan, excellent salary.
Cons
Extremely political, more than other large corporations. Yearly agreement and review is irrelevant, done only to comply with HR. No strategic alignment, everything is done because "we are already doing it". Verizon Wireless seems to be better, but they are getting tired of other business units eroding their profit. No career path, you need to be 15 years on the company to reach a mid-management position, regardless of your skill (seen with many mid-level managers). Promotions are almost by luck and tied to the managers interest in growing her/his own career only. There is no collaboration between teams, getting information to do your job is almost impossible. Everybody is scared (because of historical reasons?) to share information and then losing the credit. Something it should take a couple of weeks, takes you months and countless trips around the country trying to convince other teams that you are trying to work for the improvement of the company. This is endemic and not only in one location/business unit. These comments are a compilation of feedback from people that have been 7+ years in the company and worked in projects across the US and gone through many lay-offs and management changes. I have experienced 95% of this.