Pros
I've worked at EM for two and half years and had an amazing experience. While the overall work style is relaxed, there's no one stopping you from doing very challenging jobs if that's what you want. Some of the pros I feel are:
1. You get to work with some of the smartest people in the industry who are very helpful and great team players.
2. They actually want their employees to be challenged and grow in their career. The ones who run the company are very good leaders!
3. Work timings are very flexible. As long as you get the job done, nobody cares your whereabouts.
4. One of my friends had some immigration issues with his work visa and the management went a lot beyond their scope to make sure he was good. This shows the company's concern towards its employees!
Cons
Well, there were occasional layoffs, but which company does not lay off during bad times? Intel recently laid off 12000 of their employees!