Good opportunities, but move on when it's time or you will stagnate
Pros
Professional growth is encouraged, the reorgs mean new opportunities, and while not as good as they once were, benefits are generous. There's not a sense of clock-watching or micromanagement in most groups. You are trusted to perform. The culture encourages you to move on after a few years in one group, and that can help folks progress their careers.
Cons
The internal politics around reviews and work assignments can be cutthroat. Basically, your experience depends on your manager and team, and managers change frequently. Not to mention there's usually a reorg every 12-18 mos., so even when you like your team, it might not last. Also, because of the competition with peers, there's not a culture of mentoring the newer folks. Management quality varies because of the Peter Principle.