Pros
You get to work from home, and you some what get to managed your own time. Some of the coworkers are nice to work with.
Cons
Caviat: this is a huge organization, so I can only speak about the one group that I was working with. You have no control over your working hours: One day you could be working from 6am - 6pm and three days later you could be working from 6pm - 6am. You constantly working over the weekends and holidays. You only get paid if you get paged: They could assign you to work 56hrs as backup on call for the week, but you will only get paid if you get paged. So it is possible that you will not get paid for the whole week, even if you are responsible for responding to any pages within 15 minutes. You will be spending 50% or more of your time doing paper work. You will be responsible for figuring out how to migrate among the huge bureaucracy and get the right permission to get things done. It is your fault if you didn't get the right permission. Their internal documentation and information sharing system (email, ticketing, calendar...) is arcane and hard to use. Some people will assumed you know everything, even if it is not documented anywhere; or nobody has told you. Lots of laid off without any notice. They gave a whole bunch of us the option of either moving to Dubuque, Iowa -- with out moving expenses -- or get laid off. Wages are like third world country.