Pros
Strong ethics, well-known brand heritage and international presence. Senior management makes efforts to communicate headlines on business performance and issues to the organization. Decent benefits (especially on-site healthcare) and attention to work-life balance.
Cons
Top-level senior management are entrenched, prohibiting mobility through the organization and opennness to new ideas. Most of the best management newcomers over the past few years have left or been replaced with overly seasoned replacements. Not enough professional development. Because core business is slowly contracting, cost-cutting continuously occurring (even pre credit crunch), to the point where morale is low (especially in IT and other areas that have been outsourced to outside firms). Not enough recruitment of young talent.