Pros
I've been told it will look good on a resume, but it is really a great place if you want to settle down and prepare for retirement. The company is also larger enough that you can easily hideout and let the company work without you being noticed. When parents bring younger children in you get to hear "He looks like Grand Pa" and "Why are there so many old people here?"
Cons
Does not grow young staff, including engineers. Would spend more money on outside contractors then send current staff to training to learn new skills. Human resources is more dedicated to protecting corporate policies then helping staff use little know policies to their advantage. Management on all levels never gets pressure from below, so a poor boss who can deliver results will also get bonuses, but have their employees will constantly searching for another job. Or a poor manager who plays golf with the right people and has no results will continue to cost the company time an money.