Pros

Great job stability / security. Many, many long-time employees.
Pension available for long-timers.
Workload is light most of the time.
Pay scale is competitive.
Hours are flexible.
Some employees can work from home some days.

Cons

Some positions are being outsourced / downsized.
Market conditions for the company are not good at the present time.
Different divisions conflict with one another and provide inconsistent direction.

Advice to Senior Management

Make sure everyone has exactly one boss and that there is one person deciding the direction for each business unit and project. Go slow with outsourcing and don't underestimate the knowledge base of your existing staff.