Best times are gone, but still a good company to work for
Pros
The old days when stock options could make you rich are gone forever, but total package is still good, in the top 50% percentile of similar ICT companies. You can get RSU (restricted stock units) as a bonus each year. Networking is not as "hot" as it used to be 20 years ago, but it is still an interesting area for working, in terms of innovation and market opportunities. Work environment is OK, similar to other large ICT companies, not heaven and not hell, but still way better than a steel factory, although not as exciting as a startup or high tech software company.
Cons
Morale not great after many rounds of layoffs. The company needs a major shift to survive long term, which might be a threat or a great opportunity, depending on where you end up. Cisco was the Google of the 90s, now it looks more like IBM in the 90s. It is not an innovation leader anymore and market dominance is at risk. Many senior leaders are focused on politics and protecting their back, so the work environment is not as friendly and relaxed as it used to be. Some of the executives lack the vision, depth and personality. They can manage the "blah blah" in videos, but they fall short when it comes to real market understanding, technology vision and execution.