Pros
A few extra holidays under certain conditions
Able to work from other EU countries for some days per year (if the position allows work from home)
Some colleagues are absolute experts and are happy to teach you a thing or 2 if they have time
Cons
Unstable work situation where you can be changed from one project to another on very short notice - eg I was told in the morning to start working on the new project and drop everything on the previous one (I had a shorter lunch break to do some handover of the work I was doing and did some support unofficially to help my colleagues)
Currently laying off people, not the best time to join.
Internal promotions go to people joining the project, not the people in the project (don't take it personally and/or don't let it go to your head). The best trick is to have a great performance and already having someone that can take your place when the new project comes so that you can jump to the new project.
Very bad communication between departments in some cases - knowing the right people helps but it's not enough