Pros
The work is generally interesting, and there are some nice projects to be involved in. The co-workers are the best part of the job - there are some really great people working at Alcoa. There are some opportunities for additional training through the learning management system, if you can find the time for it. Alcoa is pretty flexible regarding things like taking kids to the doctor, and work well around those types of items.
Cons
There are a lot of policies. And policies about policies. The red tape is ever-growing to the point that it gets frustrating to try to do things directly within your job responsibilities, and the only benefit seems to be to those in middle-management who are required to create reports. Layoffs are always a concern, and you can expect to be asked to do more with less - and then asked the same again later. Senior management talks a good talk, but regularly policies don't reconcile with the values they claim to promote.