Pros

Mostly decent, nice co-workers who do their best every day to make the unbearable, vicious environment created by top management, a tolerable place to be.

Cons

The work environment is down-right TOXIC. Low level managers under pressure from above have been turning vicious and angry by the day. The business processes and procedures are inefficient, dis functional, cause a huge grid-lock and mind-numbing. The wheels that run the business have ground to a halt, but management refuses to see the fundamental problems and instead keeps pushing harder stubbornly and relentlessly.
The biggest joke is the HP-IT division. What a frustrating mess that is!! The HP-IT management is probably the most arrogant and clueless of the bunch. They have only one strategy: "Never mind what the problem is, keep pushing the employees to get it done." It's getting to a point where the individual contributors are terrified and intimidated on a daily basis, and the tone of the management has changed to barking orders, rude and short answers, and intolerance for hearing the root causes and fixing them. The tools used internally by IT are broken, inefficient and a true disgrace for a $30 billion organization.
The bureaucracy around NGDC is suffocating HP's business units and has caused the IT organization to run the business and not the other way around (the way it should be). It takes IT several months to deliver on business demands which has completely halted HPs innovation and agility.
Yet, the only solution the managers can come up with is more cost cutting and slapping around whoever is left behind to pick up the slack. The execs have no respect for the employees and it shows in the way they cut benefits, implement stealth layoffs, have a "too bad" attitude and generally have unrealistic demands.
Do yourself a favor and stay away from HP for your career's sake and most importantly, your health.

Advice to Senior Management

Get a clue. Look at how other companies are driving growth through innovation. The culture you have instilled at HP is toxic and detrimental to the company and it's employees.