Pros
In the currnet econmic environment Oracle is one of the few safe havens of stablility. Wth the acquistion of numerous companies the portfolio of applications and products is becoming even more balanced. This leads to a tremendous amount of career opportunity across products. Employees have access to excellent training and the latest software to gain industry knowledge. Oracle continues to support acquired applications (PeopleSoft, JDE, Siebel etc) while at the same time developing Fusion applications for the next generation of software.
Cons
The size of Oracle prohibits a close knit community. It often takes several weeks, or longer, for important decisions to be made. I work for a company that was acquired by Oracle and the communnication has been deficient. There has been very little implementation of strategy, mostly talk of how great things will be. So far the numbers have not backed up the talk.