Pros
Was relocated when I joined CNH -- they have the best relo package that I've seen at similar levels. 401K match 70% of the first 10% contributed plus 5% of salary regardless of employee contribution. Pay is pretty decent, and bonus is fairly generous. Opportunities for talented people to advance if you are willing to move around. Also reimburse quite a bit for educational expenses.
Cons
Keep your head down, they laid off 13% of their salaried staff in 2009. Aside from that, I have never worked anywhere that they let people go as frequently as they do here. I'm not saying that I would have voted to keep many of those folks, but when every fifth or sixth Monday there's an organizational announcement, there's little sense of continuity. One of the consequences of the turnover is that some of us now do the jobs that 4 people used to Incoherent management strategy; lot's of flavors of the month. Not a tremendous amount of fact-based decision-making. Lots of old Ford and GM guys.