Pros
It's a good place to work. They're innovative and they show willingness to take big risks, most of which have paid off since 2009.
Cons
If you love to update your resume and begin looking for jobs every October, and you love being terrified that your position will be eliminated without explanation even if you're an exemplary employee, then Adobe is the place for you! Major restructuring happens in early- to mid-November every year, and about 5-10% of the workforce is laid off. Rather than attempting to find new positions for good employees, they just throw out the good and the bad across the whole company. If someone high up doesn't like you, you're in trouble, no matter how much value you've created for the company. (Note: I have not been laid off, but enough of my colleagues have been that I feel justified in writing this. If management just cut the dead wood, that would be fine--but people with consistently high performance marks are tossed off without a care, and others who create no value are kept around long past the years that they should have been let go.)