Pros
Work life balance (more life than work). Pay good.
Cons
No one has a sense of urgency at HP, hence getting killed every day by competition. Even when great products are launched, no one knows about it. Nothing gets done on time - product development, support, billing, collections. No RSUs or stock except for the inner circle. Health care sucks compared to other employers (you pay too much for not a good United Health plan) Employees generally not motivated. Operations and support non-existent. Makes silly decisions like selling the most profitable part of the company in a fire sale (e.g. the Open Text sale). Paid $5B for the unit (pro-rated based on revenue), ran it completely down and then sold to Open Text for $170M in a graveyard sale.