Cisco

Flexible work time. Gym and day care center. Every building has a shower room. The workload is relatively light if you are an above-average person. There are lots of internal openings in different groups and with different technologies.

Could easily get comfortable and laid back, not learning new things, and lose competence to the outside world. Lots of talent and smart people are leaving the company. More and more average Joes have joined. Lots of managers, directors, and VPs. Too much middle layer management.

Product quality is getting lower and lower. Most of the time, it is because managers are focusing on product releases and adding new features, without giving time for product internal structure improvement.

Don't wait until it is broken to fix it. Sometimes it is already too late.