Pros
IBM has nearly a century old legacy of being in the forefornt of Human Resource Policies, it was one of the few major corporations to have a manager of color, to having given benefits to same sex couples to prohibit discrimination. It is one of the few companies which cannot officially donate corporate contibutions ( via PAC) to politicians. IBM has always tried to hire the brightest of the people from various schools or other companies, this in turn has helped the company maintain a very high caliber work force. IBM does have some good benefits, one of the very few companies even today offering free medical to employees.
Cons
Like some of the legacy companies IBM seems to have too many managers, the hierarchy level is simply too large for it to function in todays day and age esp when it comes to customers requiring immediate feedback. The company needs to have far fewer levels possibly by trimming a lot of fat from the top.