Pros
E&Y is a firm of professionals and virtually every single co-worker in my more than 10 years was very professional. If you are interested in working from a home office the firm has no problem and it does not hurt you professionally.
Cons
The partners demand a certain bottom line income and the firm will no hesitate to lay off their most valuable resource (people) in order to protect the bottom line. In January the firm laid off 1,000+ employees, most of whom were very tenured in their time dedicated to E&Y. I know of four laid off then who had 8, 13, 14, and 21 years with the firm. If you are in client service there is very little work/life balance... it's all work. One week after the above lay offs Fortune reported E&Y as being a company that was still hiring: 2,400 full time staff plus 2,700 interns.