Pros
Lots of work to keep busy with. Opportunities to learn and improve. A great, healthy culture. Some of the best team mates you could ask for! Some newer senior management hires don't seem to fit with previous Cisco culture, and often come from the same business (mates hiring mates) poisioning the culture pool.
Cons
Somewhat regular lay-offs (though I hear the redundancy pay is decent).
Occasional short-notice business demands/projects can be stressful at times.