Pros
Co-workers are nice, respectful and from different cultural backgrounds. Interesting technology and the products are good. First line managers are usually accessible and open. Some bright and powerful minds are working hard all the time.
Cons
The company has been on the decline for the past 15 years. There were lots of opportunities for a good turnaround, some were totally missed and some were attempted. Ultimately all of them failed. Lack of vision in either product development or how the business should be structured/defined. Lack of accountability at senior management. Sometimes the effects of bad decisions are felt only years later and by then the leadership has changed. Company paid benefits are ceasing: no 401k match since 2008 (I think); everyone across all tiers is getting 10 PTO days less; there are less health care options and they are more expensive; no bonuses that I know of. HR leadership (now based in Germany) openly admitted to not understanding why benefits are so important here in the US (!!?!??!). Loyal customers are feeling the reduction in the workforce, and going to the competitors. Layoff after layoff and very talented people are leaving. The company shrunk from 60.000 employees (around the year 2000) to less than 5.000 now. US employees are too expensive so the jobs are outsourced to low-cost countries whenever possible. The people left are now under a lot of pressure to somehow get things done. All of these cons create a very toxic environment, sadly.