Pros

Excellent benefits
Higher than average compensation
Opportunities for professional growth
Some teams work on cool technologies
Relatively stable company

Cons

Your career limits are based on who you impress with your performance. You have to do the things that management cares about even when they're bad for the company
Your credibility is determined more based on who you know rather than what you've accomplished
Long work hours are expected
Seattle weather sucks

Advice to Senior Management

Success depends on execution not just strategy. Top management needs to be more involved in execution.
Being overly centralized in Redmond (with 40,000 employees in the area) creates a distorted reality. Listen to employees from all over the world and take their input seriously.