Pros
There are lots of smart designers to learn from if you can get them to make the time for you. Education reimbursements.
Cons
Management is out of touch and floundering. Morale is at an all-time low. Constant reorgs and changes in strategy. Annual layoffs of the most experienced employees. Your success is largely determined by your visibility, leading to a culture of BS where people make useless presentations and send lots of emails just to be seen doing so. Labs are typically empty because everyone is at their desk sending emails and making PowerPoints. Those that quiety do excellent technical work are layoff targets. Blatant favoritism runs rampant in certain groups, and is swept under the rug by HR despite numerous complaints. Laziness, incompetence, tardiness, and poor attendance are tolerated if you are of the chosen few. Business ethics are questionable and quality problems are downplayed in order to get products out the door. Product engineering is often sloppy and amateurish. Office politics are out of control. Most managers are disengaged from employee development, with their only advice for career growth being "do more presentations." Promotions go to the least deserving. Employees quietly complain to each other about these issues but are afraid to raise their concerns for fear of retribution.