Pros
Lots of different businesses and opportunities to challenge throughout one's career. You run into the same people in different businesses and roles over the course of your career, which helps a person feel connected to the business.
Cons
Missteps can brand a person forever and make it difficult to move beyond them. While some critique a slow-to-move culture, others are more ready-fire-aim kinds of people. Also, recent Fit to Grow layoffs removed many important contributors from the business and today we don't see a sustained low-cost benefit of that layoff. Higher than acceptable costs are less likely from having too many people than from having people duplicating work across the multiple business units. We don't really enjoy the scale of being a larger company, as we behave as a confederation of small companies.