Pros
You will be able to learn the latest and cutting-edge technology. Average pay (for experienced employees) with a company car and parking space in the office, Telephone & Internet subscriptions. Very good location and has very good colleagues.
Cons
Layoffs every 4 to 5 years. When it comes to salary, once you are in a salary band, it is very difficult to get a good raise. To keep the R&D site competitive, management has to keep the most engineers in a certain salary band. Because of this many employees want to go to a better grade to change their salary band and it is impossible unless you are such a crucial resource. Usually after 5 years, employees start to look around for other positions, which is nearly impossible, very few move to other internal positions with the same pay. Many managers think that once you are a test/software engineer, you are a test/software engineer for the rest of your life. The same goes for other engineering roles as well. Most people who look for career growth (after 4 or 5 years in the same position) will leave the company after getting tired of trying.