Pros
There are good opportunities for advancement and upwards (and lateral) movement if you are within the management ranks (up to 2nd line management, 3rd line and above positions are rarely filled without a person being groomed for that specific position). Benefits are decent compared to others.
Cons
If you are a union member, it is much harder to move into management (within the last 5 years) than it previously was. While benefits are good, costs have severely increased over the last several years. Sales and marketing personnel are the first to go with any round of layoffs (in most cases), not saying this is bad unless you are in Sales/Marketing. Senior leadership does not have an accurate view of how projects are going and seem to have no interest in the real story (until the problem is in the media).