Pros
The work can be challenging and interesting. ABB is a multinational organization with a diverse client base. Thus, there are opportunities to gain practical experience in a wide range of industries. For example, an engineer working in controls might be exposed to refineries, chemical plants, pulp and paper mills, power plants, ... Management was flexible with respect to personal issues. Comp time, telecommuting, flex time (often during the summer) were offered. They offered decent benefits, but salaries were slightly below average.
Cons
My original subdivision was poorly run: nepotism was a problem; management did not communicate with the staff; and morale was poor. We repeatedly faced reorganizations. However, we were too small to attract C level attention until the damage was irreversible. There were (are?) some issues caused by the madcap acquisition period (1980's to 2000). As a result of ABB's expansion, there were parallel functions in different ABB organizations, but communication between such groups was rare. Effort has been made to consolidate, but an emphasis on price rather than value has lead to shift of established operations from US/Europe to newly formed groups in Asia. As a result, much hard-won knowledge has undoubtedly been lost.