Pros
Pay is competitive for many of the positions.
Benefits are pretty good-medical, dental, vision, 401K
HR department is committed to ensuring a respectful workplace so don't be afraid to speak up if you are mistreated by a manager or coworker.
Overall fair treatment of employees is observed
Focus on improvement activities like Kaizen and Six Sigma.
Cons
Communications from corporate are general and vague and major changes are not communicated very well-the 'rumor mill' will portent a major change (like the pharma division being spun off of the larger Covidien) but communication to employees can be spotty around these issues.
Getting promoted can be a mysterious and unclear process - not that many promotions from within. It happens but not as much as it ought to. Too much of a focus on hiring outside candidates.
Poor focus on talent development - not enough apprenticeships and interns.
Finding a path for 'career development' can be a challenge - you have to do it yourself.
Sometimes an excessive focus on financial results to the expense of other things, like employee morale.
The manufacturing facilities often seem to be treated like the red-headed stepchildren by the corporate office - resources withheld from the Plants while corporate indulges in elaborate holiday celebrations and excessive numbers of Vice Presidents.
Job security appears to be better at the Plants than at Corporate