IBM

IBM is still a hub of truly cutting-edge research, and applying that research is legitimately exciting. If you find the right area to work in, I think it's a great, highly stable company to work for.

IBM as a whole feels like an archaic monolith, constantly making silly blunders trying to be competitive in markets where others have already succeeded.

Teams that are tasked with trying to chase competitors end up being laid off, and the company burns a huge amount of resources (and good faith) on such efforts.

Almost none of IBM's products/services feel like market leaders (there are, of course, a couple of exceptions), and the company doesn't seem to have much aspiration to be a market leader. It just doesn't have the right culture or leadership to do so.

Focus on areas of innovation and invest in partnerships instead of suffering from not-invented-here.