Pros
The work ethic is non-existent. If you want to work as little as possible, take sick leave every week and take home a fairly small pay-cheque, then Ericsson is for you. Expectations are low. If you're not academically strong or motivated, then this won't hold you back at Ericsson.
Cons
The work ethic is non-existent. If you want to work hard, learn, improve and be recognized for your efforts, then don't even consider Ericsson. Salary "increases" are pathetic. Despite 100% superb feedback from everyone I worked with, I received a salary increase below inflation (effectively a pay cut). Technical competence is extremely low. The bar for entry is very low, so Ericsson is full of people with weak academic backgrounds and very low technical capability. If you value working with (and learning from) smart people, then you will be frustrated at Ericsson. This also brings the issue that if you have high technical competence, then you will not be recognized because no one really understands what you have done. Ericsson brings big-company inefficiency to a whole new level. People are always too busy to do any work. Technical issues (that completely halt development for entire teams of developers) are a very regular occurrence. Every seemingly small task takes a ridiculous amount of time to pass through all the layers of bureaucracy. There is absolutely no collaboration between teams, so development effort is repeated over and over again. Technical documentation is always: unnecessarily long, out of date (or just incorrect), unclear, incomplete and lacking the few necessary details.