Pros
Excellent opportunities for individual growth. Excellent mentoring for college grads. Open to employee recommendations and solutioning. Large presence in the world market. Strong emphasis on ethics. I appreciated management's efforts to make itself visible to the organization via the company's intranet with regular news articles, etc. The payoff for this effort is that employees feel like the "know" who the wizards are behind the curtain and the curtain is more transparent than in a lot of companies. For me, it felt like a no-bull type of place to work--for the most part, what you saw is what you got.
Cons
Cyclical nature of the engineering industry, which just goes with the territory. Can't think of anything else at this time--in general, it's a great environment to work in.