Pros
I’ve never seen a company that tries as hard to keep employment impacted employees within the company by helping to find them new roles. I’ve the last 5 years I’ve seen 5 rounds of layoffs. Each time most of the impacted employees were able to find new positions before their last day of work. Also, the employee pension plan is a great thing. If that wasn’t in place I think a lot of people would look for other jobs more quickly, but the long term value creates a significant hit if a person chooses to leave.
Cons
The company is way behind technically. Old systems that don’t talk to each other, lots of manual work requiring headcount that would not be needed if technology adoption were faster, and development and launch of products without fully developed remote diagnostic ability puts it 15 years+ behind competitors. The employee loyalty mentioned above also means that a lot of longer term employees get promoted to senior roles, and not many senior roles are hired from outside. This leads to a fair number of senior people leading business groups for technology they know nothing about. This creates gaps and lots of need for employees to find bandaid ways to cover and keep things moving.