Pros
Strong company with great history. There's a conservative air to the work environment that can make it feel like you're working in a bygone era, at times, but they've done great things to retain the better aspects of this while moving towards the future. They support their own and promote internally, and take great pride in their own talent development. There has also been a pivot in recent years to be more accepting of change and advancement in to the modern business setting.
Cons
The tide of change can be slow at times, but this also presents a strong bedrock upon which the company's financial and business security are built. Sometimes the desire to support their own can also put others in a difficult situation, as second, third, fourth, fifth, etc chances all seem very common. The more talented may have to pick up the work of the complacent individuals, but they are also then rewarded and recognized for such.