Pros
Given the vast amount of IBM brands, it isn't difficult to find a position of interest if you invest the time in creating connections across the company, and happen to have a management chain that supports personal growth of their employees.
Cons
The only reason IBM is doing well right now is because budgets are being slashed left and right, employee morale is at an all time low and management (if you're unlucky) can be quite condescending and non responsive to employee needs. Keeping the staff happy is nowhere on the priority list. People are often expected to work extra long hours and weekends without any particular compensation, reward or acknowledgment. And the expectation isn't reflected in a request to come in but rather by assigning large amounts of work that don't actually make sense given a "normal" work day.