Pros
I have been working at Alcatel-Lucent full-time for more than 10 years. Peers are nice, the work environment is good and the job is fairly stable - if you work extra hard. Flexible work hours but you WILL need to bring your work home with you if you want to be home for supper. Some Great people left.
Cons
As a whole the company has been on a constant decline for over a decade now. Sustaining life through acquisition and mergers. Was awesome at the start but now there's not much to get excited about. Risky career development - choose wisely. Not as much opportunity to grow as one would think. Not agile, practice Kanban though. You do not necessarily get what you put in - long hours for a pat on the back. No salary increase in years and the incentive plan is rarely paid out. Great people make great companies .. we are down on the amount of great people left.