Pros
If you know the right people or are willing to suck up to the right legacy management, you can be successful here. In the right departments, the rules do not apply and you can choose when/if you work.
Cons
Typical corporate structure. Cutting wages and benefits from the bottom. Management ignores employees that are not in their own inner circle. Going to a manager, then director, then VP, then SVP and still falling on deaf ears -- they do not care. The organization dysfunction and still operation as 10 different sub-companies persists. Many managers still insist on their legacy model and its die by the sword on that. The customer is not the priority. Ego and working with your buddies so you can ditch the office for a few beers is the priority.