Pros
The pay and benefits (especially the benefits) are unbeatable. Everyone in the Company gets a raise (albeit a small one), even if they are under a job threat. The health plan and profit sharing plans are second to none. The work environment is usually very positive and clean. Roles are clearly defined and there is no "matrixed" reporting structure.
Cons
The management folks that the Company hires come mostly from top-tier public universities. The Company pays a lot of lip service to listening to employees by rarely, if ever, does this in practice. Improvements and changes to the way processes are changed are decided on high levels of the Company, as senior managers are micro-managed by their bosses. This unneeded oversight continues all the way down to the floor employees. Too much time is wasted trying to "nickel-and-dime" employees, rather than allowing them to devise their own novel solutions to operational problems.