Pros
Great people, great 'college campus' facility (the one in Dallas, that is), mostly good or better managers, great opportunities to do things with coworkers after hours or even during work hours (company activities, group activities), great community and charity work. Depending on your manager, you may have really great work-life balance, some flexibility with hours, ability to take off early and stay late the next day, etc. Most of the time you will not be denied a vacation request - in fact, I was approved every time.
Cons
There has been a 'layoff culture' for so long that even my father (older than I want to admit) heard about this when I was just a little boy living in Dallas and had no idea I'd ever work for TI. Managers are often simply going to toe the company line and won't stand up for what is right or ethical (not talking about ethical practices dealing with customers, rather with employees), Seniority is king, doesn't much matter what you do if you've made it into the structure of the company, even down to the operator level. New ideas are usually squelched as 'that's not the way we do it here'. Hard to make it as a newer employee if your manager and coworkers have been there decades. Upper management is simply unaware of very much that goes on and really couldn't be bothered to remedy it even if they took time to become aware of various situations.