Astonishingly out-dated management style, culture, IT tools, and pretty much everything else. Horrendous working conditions. Promotion is based on your age and time with the company and not your skills and enthusiasm.
Secure environment, good colleagues, strong culture, good opportunities to have a long-term career if flexible geographically
Cons
Low salaries (below market), very conservative culture, career path not clear, employee (and family situation) not taken into account for career moves, zero flexibility