Pros
Great benefits- top of the line health insurance, 401K match, and more. Working from home is permitted. Also comfortable offices and decent onsite food.
Cons
Adobe has lost its way. Top management is out of touch and focused completely on Wall Street, not on pleasing the customers. Middle management is so focused on keeping their jobs they are scared to do anything that will kill the cash cow. Front-line managers are unable to effect change and don't get much respect. Layoffs are an annual event now, and each September on the company slowly grinds to a halt as the rank and file waits to find out whether they'll have a job the next year. It's terrible for motivation and also encourages short-term thinking, since nobody can assume that either the strategic direction nor their jobs will be the same over the long haul.