Pros
Good work life balance. In a large bloated company anyone who doesn't wants to or cannot work finds place to hide. Flexible working hours, work from home allowed.
Cons
Very bad treatment of non-permanent employees. There are hundreds of such employees in Munich alone who do not give their opinions in any "Best Places to work" surveys. This is a new trick that companies employee to avoid responsibility of hiring a permanent employee and remain flexible with layoffs. The non-permanent staff are called just as 'Temps' or 'Vendors'. They have no rights, if a Manager is abusive towards them there is no protection for them except to leave the company. Temps are openly discriminated, in every email that is about any small benefits like buying company smartphone/tablet or purchasing softwares internally or going to off campus dinner, at the end of email is written "FTEs Only". Even it can happen, they would invite everybody to an all hands at an offsite and everybody books travel and just before the event, the "Temps" would be told, they are not allowed to go because of "budget constraints" or "policy issues". There have been people working as "Temps" like 8 or 10 years and layed off with a single sentence. Aside from non-permanent employees, the environment for FTEs is apparently very good but when it comes to promotions, only good at making connections to with the higher management get promoted. There are people at very high positions like who dont even have a University degree, they are there because they know how to be friends with important people.