Pros
Big established company with cache within the industry. Established culture eases entry into position. Generally easy to get along with most co-workers and immediate supervisory levels. Recent perks include free drip coffees, teas, and fountain drinks. Bonus plans involve entire company, meaning that we improve as an entity and "under-performing" groups do not necessarily get slammed in the bonus process. Medical benefits options are plentiful, with several choices that one could choose based on needs and cost. Profit-sharing tends to take a bath when the stock slides, but the 401k setups generally involve funds that are well-managed. Good people work here...
Cons
Pay generally somewhat less than "industry standard", sometimes as much as 20%; medical costs increasing even when company contribution decreases due to overall decrease in benefit cost; extremeny tight-lipped concerning major job-affecting events, to the detriment of the general worker population, even to the point that the board has been concerned; At times it becomes difficult to procure what's needed in order to perform job duties (this is department- and group-dependent) due to some in middle management being more concerned about minimizing costs at a bottom-line level as opposed to suspending or eliminating "nice - to - have" tools, equipment and services...