If you enjoy being bound in internal red tape as your day job, then welcome to The New AT&T.
Pros
Fairly decent benefits package offered to full time management employees. Discounts on local phone, DSL, long distance, cellular, and TV. Being such a large company, vendors generally are responsive to information requests and sales inquiries. The company will help pay for certain college classes/MBA classes. Depending on your manager, some work from home is allowed.
Cons
Senior management is out of touch with how work actually gets done by the employees. The company is still struggling with integration of the many smaller companies they have aquired in the past few years. No recognition of superior processes that might exist in companies that they take over; the better ways are steamrolled by the "old" way. No recognition of a better-than-average job being done by anyone, so a doing a mediocre job is the new standard. Automation and use of the web to facilitate improvement of internal processes is slow to be embraced, and when it is, the result is less than ideal. No training budget for management employees, even those who have high-level professional certifications. No travel budget. Information standards and policies are poorly documented.