Pros
There are many different divisions doing interesting/fun projects, and accepting a position in the "right" division can make all the difference in job satisfaction. The benefits (medical, dental, vision, 401k) are outstanding, and it was the rare employer that if you performed well offered either a pay raise or bonus every year.
Cons
The communication from upper management is terrible (CE* management might be the industry's worst as the push for near term profits is propped up by relentless cost cutting). Internal mobility is poor, leading to attrition across the ranks. Additionally, it isn't uncommon for the company to freeze internal transfers, which further increases the attrition rate. Recent layoffs have forced talented employees out as the company's current priorities are not to find ways to retain good employees to invest in new projects and products, but rather to eliminate unwanted lines of business and maximize investor returns. For an employer with so many job openings, freezes and blindly laying off groups loses employees that could have readily filled other roles at the company. Generally not a bad place to work, but lack of vision (the company has created little that wasn't added via M&A) and ongoing staff turnover is crippling the ability to innovate and create the next great product.