Pros
Stable, and relative freedom if you stay away from management.
Cons
Dilbert principle is rife, blame intensive company, fear of failure at the cornerstone of making people work harder, anybody who works smarter is cornered off by an intrinsic inner network of bureaucrats who have no real power other than to target defensive attacks on their ivory towers. Consumes good people for the benefit of middle/upper management. Upper management have very little concrete delivered results by their own efforts, as the rely on good people they push around or get rid off over time. The company in general after 20 years is destabilising under the forces of new technology and leaders who are out of touch. The best approach of fixing it is to hire new graduates who haven't been burn't by the company.