Pros
AT&T provides great medical and 401k benefits, as well as tuition aid and many internal training programs. There is always self development training available to no cost to the employee. Job security is fairly stable, there is always the opportunity to transfer to other work locations and jobs within the company. Work locations are global.
Cons
There are too many chiefs, not enough indians. Bringing lots of people together from very different cultures has been difficult due to the many mergers over the years. The result is that change takes too long. Some ideas are obsolete before they are implemented. Downsizing in some departments has resulted in employees doing more with less, which isn't a bad thing except when it affects the customer.