IBM

Pension. There really isn't any other pro in working for IBM, except possibly that it's easy to hide yourself if you are a low achiever. Even then, that might not last long.

Everything else.

IBM has little care for its products and its employees. As a result, they sell mediocre products supported by a dissatisfied workforce.

Their strategy is one-size-fits-all. As such, strategic decisions are not made taking into account product value, product investment, existing resources, and investment efficiency.

At the next round of cuts, everyone gets the same percentage of heads chopped off. A hire freeze applies whether a product is yielding $7M/year per developer, or $0.1M. The next killer product is staffed uniformly, stealing heads from every other team. As a result, it is designed and built by those heads the other teams could spare.

The former premise, and the work environment, is such that you are forever requested to widen your commitments to the company, with a promise of recognition of career advancement and recognition – somehow they always fail to materialize.

There is a talent retention program, which is interesting because if IBM kept its side of the bargain, it wouldn't need one to start with. It also amounts to: "If you stay, in the long run we'll see if we can do something 'significant' for you."

Bring Lou Gerstner back.

He wasn't perfect, but at least he had some sense.

Seriously, your best assets are your employees – look after them, and the rest will follow.