Pros
Job security, many different divisions and possible roles, generally good managers, flexible work hours, pretty good insurance and benefits, and a friendly culture.
Cons
Consistently incompetent HR, which has outsourced everything in the name of cost savings to the point when managing simple things like benefits, hiring, and firing are nearly impossible to so smoothly. Despite trying to drive for a "high performing culture" (in their words), their actions never quite make it and there is considerable mediocrity from employees that simply won't ever be fired. Salaries are considerably below industry average. It wasn't uncommon to receive offers for 25-30% more for the same job from other companies. Culture and politics driven from German HQ, which makes any meaningful change EXTREMELY difficult and slow. As a result, the company can't react to market and customer changes in a timely manner.