Pros
The physical working environment is very pleasant, with decent benefits such as tennis courts, gym, fitness classes, and varied cuisine choices. The buildings are youthful and well decorated. Flexibility to work out of office exists, though it is difficult to obtain permission to do so. In general, employees are treated fairly based upon merit, rather than title. It is fairly easy to make a difference in the company if one so desires, because there are people willing to listen and support good ideas. The structure of the company's departments are reasonably well designed to help enable productivity through effective allocation of resources.
Cons
The cohesiveness between and within business units is very poor. There is little sense of camaraderie. There are few people who could be called inspirational, and little that motivates employees to go above and beyond. It is difficult to trust the direction of senior management, because that direction is rarely shared in sufficient detail. The biggest problem I perceive is a lack of effective communication within departments and between departments, or even between teams in departments. At the root of this issue is a lack of emphasis on the value of and motivations for supporting one's peers and the company's goals.