Pros
Very generous PTO and work flexibility. Never dreaded coming into the office. Good culture and friendly, peaceful environment. Good interdepartmental cohesion, easy to find assistance from SMEs. On-site management is always active and supportive with whatever concerns come up. Lots of diversity, if you're into that sort of thing.
Cons
Global leadership can make the decision to cut 30% of your department, or transfer your responsibilities to another site/overseas at any moment. Often with little foresight or planning for the results of those decisions. Development goals are always too ambitious given the time and resources available. Development and quality teams are punished when profits begin to drop. A lot of brain-drain in recent history. There aren't many of the old-heads left to share their wisdom. Lots of diversity, if you're not into that sort of thing.