Pros
I write from the point of view of a senior design engineer. Micron is an incredible success story in a very unlikely place, mainly rural Idaho with just one small city, Boise. Certainly not a center of tech, and maybe just barely a "creative capital". If you are from Idaho working for Micron is a dream job and if you want to "escape" to a place with low home prices, wide open spaces, mountain-biking and skiing galore, relatively free of urban problems Micron might be your ticket to the kind of lifestyle you won't find in many places. While Micron is very subject to the economic cycles of the semiconductor industry and has laid off tons of people, they do want to do the right thing, it's not Silicon Valley after all but family-oriented Idaho. People are here for the long term. And if you are are a semiconductor manufacturing specialist or a memory expert you'll find very challenging and rewarding work here.
Cons
Hardscrabble Idaho culture, basically a very conservative outlook with a strong aversion to risk and a fanatical dedication to cost cutting makes this a very hard place to innovate or even to feel that innovative or entrepreneurial ideas are welcome. Micron, as an extraordinary survivor in a tough business feels it has the formula for success down and has as much resistance to change built into every facet of its operation as any company I've ever seen. Actually, you feel here that you've entered a time warp, everything is early 80s from the sea of grey cubicles, to the management practices, to the strict 8-5 "shift" working hours, and even the smoking break rooms. There is some effort to "pay for performance" but the potential rewards are modest and, in any case, stingily doled out. If you have worked in technology other than at Micron and Idaho is not your dream destination you are going to be deeply shocked by the culture here. Still, tech culture is not all rosy and the tradeoffs at Micron are not all bad. The question, though, is what will happen to arthritic Micron if - when - they are faced with the next disruptive wave in their corner of the technology world.