Pros
Great place for work life balance & benefits. Work environment can be very flexible depending on the job function & the business unit you work for.
Cons
Promotions are hard to get, as well as getting assigned to those projects that will ultimately get you those promotions. Thus, the lower you come in on the professional ladder the more difficult it's going to be to move up because those that occupy those ''ideal' positions never leave. It's very common to meet someone who has worked there for 15-20 years. You can definitely get pigeon-holed if you're not careful. Not all business units are treated equally. Typically, you will find this in their largest business unit. It's basically the step child of the organization, but it actually has the most employees in it.