Pros
I have worked for the company for over 10 years have enjoyed working with many professional and highly educated folks. Collaboration between and among teams is excellent. Flexibility to work from home is a plus. A court ruling changed the way IBM must pay overtime. Now many employees that were full-time are paid hourly and IBM must pay for the actual time worked. This has greatly increased my salary, which has also been a plus. Benefits are decent and vacation time is a plus.
Cons
There is a feeling of constant stress that you will be laid off at any moment. There is little opportunity for advancement. Employee assessments do not seem to be fairly evaluated. Employees are rated not for their results to their goals but against their peer's results. Only 10% of employees are able to get the highest rating regardless of their results with the remainder of employees rated mediocre or worse. There was little performance bonus last year and no pay raise at all.