Pros
Good experience and resume fodder. Decent benefits and pay, large organization that affords career development if you are willing to relocate often, international business experience depending on your role.
Cons
Lackluster merit increases and poor recognition of contribution to the organization leads to a revolving door of talent. Management seems to be either mired in concrete with no changes or in a state of constant change as the company looks for ways to fix business units they think should perform better. The lack of upward mobility or constant changes in direction with new managers coming in drives many of the more talented employees away as they either stagnate or grow frustrated with the uncertainities surrounding their position. Unless you are willing to relocate to other divisions, it is difficult to advance as the constant stream of acquisitions adds upper management to the ranks. This limits the opportunity for internal advancement. Despite lip service to the contrary, the bottom line is all that matters to senior management. Employees are talked about as numbers in relation to retention and how terminating them coudl improve margin performance.