Pros
VMware is a big company but in many ways had a startup vibe. That was great because the resources and infrastructure of a big company were there, but it gave most people I worked with freedom to work on many projects, influence, move around, and contribute in many ways. Plus, many things moved faster than they might at other companies of the same size. Perks were really great including bonuses, events on the campus, opportunities, etc.
Cons
The biggest con is the annual layoff. During most of the years I was there, we were growing like crazy, beating expectations, gaining in stock price, etc. It was always positive and upward. However, every single January, it was known that there would be a round of layoffs, even when all numbers were looking great as they almost always were. Management called it restructuring. But, over the years, some really good people were let go for no apparent reason. Then to add insult to injury, a week or two later, there would be a company quarterly meeting discussing how VMware was doing so well and is still hiring, but they had to make some changes. It always felt dishonest and the sympathy for those let go came across as disingenuous.