Pros
World wide recognized employer. Good benefits package and a stock that's doing well. Company is hiring more young people to fill roles that were once occupied by staff that has been with the company for 15 to 20 years. There is very little knowledge transfer that goes on between older staff and new employees. Sometimes managers layoff older staff without first having them document processes leaving new staff unable to come up to speed to take over the work. It is clear sr. business leaders are territorial and are friendly with sr. management in order to get any work done and to expedite projects. It's the only way to make sure your projects get funding.
Cons
Corporate politics feeds the rumor mills and no one clarifies to staff about where the company is headed. Management vague about corporate decisions and vision for next 2 years. Lots of the staff is disappointed that there was a pay freeze last year. Everyone has been taking on the work of those laid off without proper compensation. Management expects you to do at least 9 hrs a day but frown on reporting overtime. Reviews have been increasingly subjective so that if you are buddies with your manager, you will definitely have a better rating than rest of the staff who does their work but doesn't socialize with management.