Pros
Good benefits including 401k. That is about all that can be considered Pro. Beware of 401k loan though, because they are payroll deducted only and are due in full when they lay you off, and they will lay you off.
Cons
Low pay, very rare raises. New management has no clue what they are doing. Spending money left and right on unimportant things like courtyard furniture instead of investing in the people who have spent their lives working at a place they believed in. Laying off long-time employees and hiring in new ones cheaper but do not have any idea what to do. Management has no loyalty to employees who have worked 10, 15, 20 and sometimes 30+ years. Company now so top heavy they have to find people who already have money coming in with projects to work for them. Letting everything that built the company fade away and investing in new things that just are not going to work.