Pros
All employees I have interacted with are engaged in their work and deliver good results. Open culture, you can say what you think without fear of getting fired. Most of the managers I had there were excellent managers and know how to keep their employees motivated and happy. Good place to gain skills and move on.
Cons
Bureaucratic and shrinking company, at least for employees. Even if P&G is always profitable the stock market requires profit growth not profit stability, something almost impossible for a mature company that already has its fair share of the markets it competes in. This means job cuts, which are mostly voluntary leaves but those that don't leave are stuck at the same level for a long time since new roles are rarely added but many roles are eliminated. Responsibilities keep growing at all levels without increase in pay or promotion.