Pros
Alcatel-Lucent offers very flexible working hours, decent salaries, very good benefits and has a good vacation policy with vacation time growing with years of service. Most managers are flexible about working from home on occasion although few managers like having full-time work-at-home employees. Nobody really watches the clock so long as deadlines are being met. Alcatel-Lucent is in the process of being acquired in whole by Nokia (this is public information). Only time will tell if this will be good or bad for the company and/or the employees.
Cons
The management structure at Alcatel-Lucent is very top heavy. Most of the company claims to be doing scrum, but in my experience, no-one is really doing it. Management thinks they can pick-n-chose the parts of Agile they like and ignore the rest. Managers are very reluctant to give up control to the scrum teams. Some divisions of Alcatel-Lucent are extremely process heavy, to the detriment of the product. A small, simple change to the code can take weeks to deliver leading to frustration in the development staff. Other divisions have almost no process leading to a wild-west environment, which also hurts the product. Alcatel-Lucent needs to find a happy medium in their process and needs some standardization across product lines.