Pros
Walmart doesn't deserve it's bad rep. The company has good ideas and they do care about employees, more than is portrayed by an unhappy few. Lots of advancement opportunity if you are okay with falling in line, not with unethical practices or anything, it's just very top - down decision making. Employee experiences vary widely based on the quality of the store mgr (many who were great!). Great emphasis on the open door policy which works well most of the time. Overall better than they get credit for.
Cons
Execs are way off base about how things really happen in the stores - mostly because of the expected dog and pony shows when they do actually visit. Also they are so focused on keeping prices (and therefore expenses) low, that stores are chronically understaffed which leads to messy stores, out of stock items, little customer assistance, and the ubiquitous wait in line to check out. Now that I'm no longer w/ the company (downsized), I rarely shop there because it's frustrating to see these issues still not solved. Low prices, if that is what you really care about, this is the place to go, but you get a minimum experience as a customer and often as an employee, too.
