Pros
Intel upper management has tried hard the last couple of years to genuinely listen to and act upon employee concerns and suggestions. Things do seem to be changing for the better since the previous downsizing in an attempt to create a leaner and faster responding company. Intel also has some really good benefits in addition to competitive salaries.
Cons
Intel is a large company and as such suffers some of the same politic type issues that all large companies seem to share. Although management is trying to streamline processes, it is fairly slow to implement them, although it is happening slowly. Sometimes I think that Intel is relying too much on certain types engineering job functions offshore. This leads to some awkward meeting times as well as some quality issues that could have been avoided by doing the functions locally.