Pros
Good office atmosphere and a dynamic, multinational environment. Collaboration is really working between peers. Fair personal-professional balance and lots of "add-ons" (sometimes depending on the location): cafeteria, canteen, kindergarden, parking, corporate tools and resources,.... The company is encouraging employees for bringing new ideas & projects all the time. Lots of opportunities for improving your language habilities and soft skills.
Cons
There is no people management as employees are becoming mere resources. Outsourcing is everywhere (India, Hungary, Egypt,Romania,...), the cheaper the better. Promotion is nearly impossible as 80% of the appointed managers are outsiders. At high-level management there are only horizontal movements (CEO from here moved to CEO from there), just as a very big happy familiy. If you do not belong to the family, forget about career plan. HR is COMPLETELY useless. Again, people management is not existing as they just make sure that you get your salary every month. HR do not encourage managers for doing "micromanagement". If your line manager is in a different location, probably you will meet him/her twice per year, maybe less. Performance review processes are again useless and feedback is not existing (rather getting a good/not good rating). Companywise, recent decisions look to be in the direction of reducing company value (Verizon 130$ billion deal).Strategy is often unclear so nobody knows what could happen.