Pros
At the time of writing Ericsson is fighting to get on top of the ICT business again . Even though compamy is experiencing great challenges in profit (losses every quarter since 2 years) , it hasn't affected employees basic working as it should in such challenging time . As it is one of the best Europe based company (Sweden), the work life balance is very good . In my project in GCC India, leaves were provided . Good care of women employee were taken . This is one of the prime reason that many people don't leave Ericsson at all (comfort zone). Managers are good atleast in my Division (IT).Good Culture.Good Paymaster.
Cons
As it is a huge organization , benefits of start up like fast learning is not that much. After 2-3 years , when you have mastered your job , it gets montonous . However, internal transfers are fairly easy .