Pros
Flexible work environment--Most meetings are conducted by phone. Therefore, people can easily work from home. Employee discounts, excellent 401k, top employer brand in your resume, good health benefits, good tuition reimbursement. Easy to change jobs within divisions if you get bored; though, this year VZ is cutting jobs.
Cons
Very impersonal work environment. Most teams are remote. Chances you will meet your team or boss are slim. With the economy as it is all travel has been cut. Who you know and how you manage up are the only things that will get you a promotion at Verizon. Average employee has worked for over 15 years--MCI legacy employees-- so there are solid clubs in all departments. Extremely difficult to be promoted unless you are hired at a very senior level from the beginning--director or above. Very silo company where each department has its own way to thinking and working Company lays off people massively every year...