Pros
Good benefits. There is an overall positive energy that people make the effort to maintain and you will get respect. Upper management does its best to convey a postive opinion about the business, pitching the health of the company to employees much as it would to its investors - understandably, I suppose. The company celebrates successes publically (to the whole company) and rewards outstanding performance.
Cons
Workload and high expectations may mean 6 day work weeks and always being behind. My business unit and partners seem to have trouble communicating and taking ownership. Too much politics in terms of protecting your own butt and blaming the ignorant or new people. The politics seem to stifle finding the right solutions, by protecting egos and saving face; which led to some poor decisions and a breakdown in communication.