Pros
Good amenities at most delivery locations (even outside India). Fairly well respected in the marketplace. Relatively good day-to-day IT support. Large size allows for moving within the company. Relatively good work-life balance (but this also depends a lot on your level and the kind of role you are in). Those who are deputed to overseas roles (especially in US/UK) from India are paid a good 25-30% less than the market rate for the same role.
Cons
Heavily bureaucratic. 'Red tapes' exist almost everywhere you look. The HR function is almost a joke. I don't remember seeing even one C-SAT survey rolled out by the HR teams during my tenure of close to 8 years, and I guess thats because they themselves may be aware that their existence is merely a formality since every company should have a HR function. The other internal support functions aren't effective and (almost not at all) employee friendly. Not all divisions are growing as fast as they should. Meritocracy & 'Wipro Values', though constantly implied a lot on paper, aren't really applied. The appraisals are more of a 'tick in the box' than actual quality dialogue between a manager and his team.