Pros
Very few, broad issues across the organisation. The work can be interesting but don't expect to make any meaningful change. Managers in my business area were generally good, understanding and accommodating. Generally treated as an adult human being with a good and clear work/life balance.
Cons
From org structure, to performance reviews, to salaries the entire wider business is awful to deal with. A broad drive to downsize and offshore as much as possible to lower cost centres regardless of actual capability produces a very frustrating work environment. Given the very hierarchical and silo'd engineering responsibilities, there is little room or appetite for innovation or the ability to make meaningful change to systems or processes. Pay and Review are likewise very opaque. Salaries are generally poor compared to the wider market and salary band information is tightly guarded making discussions on pay or promotions both difficult and frustrating. The performance review process is designed to produce a smooth bell curve of performance regardless of you actual effort. To compound this issue your rating is tied directly to your bonus pot attribution. Without exception this results in a bitter feelings for all involved.