Pros
Flat Organization (except for certain managers who think they can still survive by concealing information), stable company and requirements, good insurance benefits, everyone has some voice in issues and welfare to some extent,
Cons
In general you would be rated as an average performance unless you do some miracle, or circus. I have no trouble with people who do miracles, but definitely with people who do circus. Depending on managers you will see politics, but thats now general with any other company, sometimes some projects give no scope for upgrading oneself technology - it would push you to non-technical stuff such that it becomes real difficult when you come to the job market - this is not a generic comment but have seen it happening with fellow employees. Its a big company, recognition is hard to come, but there are awards, which goes to somebody or the other every year. Managers sometimes do not consider personal constraints, at the end of the day, you are yet another resource who can be tossed around. Quality of technical work - purely dependent on the project you get accidentally assigned to.