Pros
You get to work on interesting products and technologies. If you don't like what you are doing, it is relatively easy to transfer to another group. Company has a good reputation in the marketplace. Very good benefits and amenities, including employee software purchasing, private offices, on-site post office and gym, some free food and drinks.
Cons
Benefits have been significantly cut in the last couple of years. Promotions are difficult to get. Cost-cutting measures have resulted in ridiculous bureaucracy in purchasing equipment. Layoffs are frequent. New hires are usually in China and India instead of USA. With some products there is a lack of leadership from senior management, which results in low-quality products. It is very difficult to fire incompetent people, especially managers.