Pros
The work/life balance is incredible here for most people I've interacted with. The company culture is family friendly and I've never had any issue moving meetings around, working remotely, etc in order to accommodate children's events. The pay is fairly competitive (depending on location) and there is no formal dress code. Overall I would recommend HP to anyone for the decent pay and great benefits as well as the flexibility. There are things that I dislike, but having worked for other large companies, I'm very aware that these issues are not specific to HP. I would love to be more engaged in my work on a daily basis, but having the ability to have a life outside of work and the salary to enjoy it is a huge benefit.
Cons
You work remotely, even if you're in the office. Although I do like the group I sit by, 95% of my meetings and work are with people in other locations. Many people (myself included) have never physically met their direct manager Lots of change in management and the structures are constantly shifting. Very difficult to get an understanding of who does what at a given point in time. This magnifies the feeling of bureaucracy when you can't find the right person to connect with. I've worked for 4 different managers at HP - half were people developers and half were micro managers that sapped creativity and life. It's a mixed bag here as you would expect in many cases, but I'm concerned with a few of the very senior leaders that I see and hear of that are micro managers. I am concerned that culture could become more prevalent.