Pros
For my first 10 years here, it was steady work, albeit not that well paid. We had 38.5 hour work weeks, frequent section outings, it was rewarding. Good engineering staff tries to do The Right Thing. LOTS of technical knowledge in one company
Cons
Work is not steady any more. Management thinks it can continually lay off solid people with decades' worth of relevant knowledge, then immediately replace them with wet-behind-the-ears grads and low-cost employees in foreign offices. It has fostered an environment when coworkers are stabbing each other in the back for the most profitable work so their numbers can look better and they won't be laid off in the next round. Performance reviews now include forced ranking to a bell curve, so that lots of good employees are rated low, just to provide easy justification for lay-offs later.