Pros
I work with fantastically smart engineers and customers on the latest and greatest technologies. I get a lot of say in the product design, as management doesn't really pay attention to what we're doing. When there aren't layoffs happening, you can slack off big time without too much consequence (at least from what I can tell)--watch out when layoffs come, though!
Cons
Pay for tenure, not performance. I feel like the company has this great resource of great employees that it doesn't appreciate. I don't feel that Agilent's long term future aligns with mine (ie, existing in the future). Many old bloated processes that people are stuck to, and there are many, many "Dilbert" moments at Agilent. In general the culture is anti-innovation (I know that's hard to believe, but it's true), and nearly all business decisions are accounting (short-term) driven. Most of the employees under 30 are actively looking for employment elsewhere. The older folks with "tenure" are too set in their ways or afraid to look for a new job to notice the sinking ship!