Pros
You will never get layed off, and it is almost impossible to get fired. Good place for a new college graduate to start out, but then plan to graduate from "Sigma Aldrich University."
Cons
I worked for many areas in the company and found that management would consistently fail to invest in adequate training and development for their employees, give employees only bare-bone resources to do their jobs, and expect the world of their employees with very little incentives other than avoiding negative feedback. Most of management who work here are really only concerned about themselves and driving costs down to the extreme so they get their own fat bonus, while those below get a measly 1.5% raise (in a good economy) for busting their hump. No incentive to go above and beyond creates a culture of apathy and a "I'm just going to get by" attitude amongst the employees.