Pros
People, people, people. There are some very qualified people working with impossible budgets, zero support, labyrinthine bureaucratic requirements. Working relationships forged there are like those between members of a platoon at constant war. You go out of your way to help your coworkers, because there's no other support available when you need it, and you hope they'll do the same.
Cons
This company is in shambles. I worked there through CEOs Ann Mulcahey, Ursula Burns and into the void of post breakup. I've seen the downward spiral speed up with quarterly reorgs that liquidate key business stakeholders and have no contingency plans. It's a constant state of "Is Jane still here? Was she hit in the last IRIF? Who is going to manage all of her work?" There are never answers for who will complete all of Jane's work. In house employees get replaced with long term, no benefit contractors. Every vendor must be the cheapest, and then there are still 6 month payment delays. Every outside professional relationship you make there will be strained by this reality. It's a race to the bottom, and Xerox has broken through the floor.