Pros
Interesting challenges to work on and a company that is not afraid to invest in cutting-edge solutions. The company is trying desperately to grow beyond it's core sugary, sparkling drink category through acquisitions such as Costa Coffee and Body Armor and has money to invest heavily into product development and advertising and marketing. The pay tends to be above average, but even that has begun to erode so it's not that different than other large global organizations.
Cons
The company has struggled for decades with corporate bloat. When they owned bottlers in North America, before refranchising them, the overhead and corporate organization along with the administrative infrastructure to manage the combined businesses grew exponentially. Since selling off the NA bottling companies, they have been cutting corporate jobs, initiating large reorgs every other year or so and outsourcing huge parts of the organization. Your job is never safe and that's made the environment toxic, with competition to keep your job, especially at upper levels of management. With all the cuts, there is way too much work to be done by those who stay. They say they are training their managers to eliminate work, but they just keep adding more initiatives and projects without regards to those that have to do the work. Then you also have to ask yourself whether you can support a huge organization that continues to sell a product that is bad for your health. Yes, people are not forced to drink it, but sugary drinks have been linked to serious health issues and I think eventually they will be taken down by class action law suits or taxed into submission just like the tobacco industry.