Pros
Genuinely amazing people work here. And there's certainly something in working for a powerful, globally-recognized brand. Opportunities exist that probably wouldn't anywhere else. If you're up for it, consider getting in, getting the resume cred, and getting out before you develop stockholm syndrome (VERY easy to do here).
Cons
Where to begin? Morale has been absolutely decimated by the number and frequency of restructurings. So a LOT of company engagement and deep internal knowledge is being lost not just via layoffs, but then again via the demoralized/overworked/under-recognized people left behind who as a result then head out the door themselves. Benefits have been reduced subtly (no cost-of-living salary increases, etc.) and don't compete well with the market. Similarly, salaries are lower than they should be. You are absolutely just a figure contributing to the bottom line. Growth opportunities are limited unless you are very precisely politically aligned with the right people -- and that's fickle.