Pros
A Global Company with opportunities to travel and interact with all cultures. If you are there long enough you will travel. Many long term employees are fiercely loyal and have never worked anywhere else, a pro and a con. The benefits are good, including adoption allowances not many companies have. Good bonus program once you reach the senior management levels.
Cons
Slow to respond to change, some managers believe employees are like pencils, keep using it by shaving more and more off until there's nothing left, then toss it. You need to be able to hold your own in office politics to get ahead. Advancement is sometimes based on your ability to work the system and personal grudges come into play if you've perceived to have crossed someone.