Pros
great work life balance. Opportunities withing Cisco always come up. Corporate communication from upper management is frequent and clear. Compensation is reasonable and benefits are very good. I worked at a number of other companies, startups and large companies alike. Cisco treats their employees very good comparatively and expects good work out of them. Overall the best managed company I've ever worked for in my 12 year career. I worked at Cisco in the past, left and came back for this exact reason. I recommend anyone to come and work for Cisco. It is truly the best place to work.
Cons
Live work and play anywhere, but working from home is discouraged. I can see the reasoning behind this, but productivity must be measurable and as long as goals are met, working from home should be the norm to save commute time, fuel costs, environmental impact.