Pros
Fairly decently pay and pretty good benefits. It is definitely an employee-centric company. As an example, I got an e-mail one day talking about changes to the vacation program. It was an across-the-board increase in vacation days for everyone. Normally when you see a change to benefits, it negatively impacts the employee, regardless of how management tries to sell it.
Cons
Hardcore politicking can leave mediocre groups looking like superstars to the point where on VP meetings people get applauded for showing up while teams working 60 hour weeks are ignored. Some managers pinch pennies in the hopes it makes them look like superstars but they're oblivious to the fact upper management could care less about that when it comes time to cut headcount.