Pros

Good money
A lot of very smart, dedicated people to work with
Some interesting challenges, given the new technologies such as FiOS and FiOS TV.

Cons

Hang on to your seat, because there will be a layoff every 6 months.
The environment is becoming progressively more cut-throat and less collaborative. See above.
Current circumstances inhibit movement to new assignments.
It is likely you will get a new boss every year or two, which may allow little time to establish your value in their mind before the next rating peiod.

Advice to Senior Management

Read Elie Weisel's "Night" as an allegory of how human behavior and attitudes change when (job) survival is the issue.