Pros
Good place to grow your technical skills, especially if you are in embedded software domain. To make the best use of the position, one might have to go and do projects over and beyond his routine defect fixes though. There is freedom and opportunities to learn. If you have not worked in any other big silicon company, there is a good chance that you'll love this company. The moment you know what is out there, things might look different.
Cons
Lot of mismanagement, micromanagement. Many managers regurgitate what they hear from engineers under them. This makes you needing to do a lot of advertising oneself to climb the ladder, also get to be some manager's personal favorite. That's what helps. Very few cares about how technically capable you are.