Pros
I've worked at Amex in Phoenix for over 6 years and things seem to be going downhill. Positives have included high loyalty of employees to the company, strong financial performance, variety of job openings (however usually lateral positions). Work/Life balance is very good and one of the few reasons I have stayed so long.
Kontras
The company constantly reorganizes and has no problem giving employees pink slips. It is not uncommon to see your position eliminated once every 2 to 3 years. Shareholders come first, then customers, and employees are dead last. Phoenix office has recently converted to BlueWork--cubicles have been removed and now everyone sits at open tables that need to be reserved everyday. Everyone complains about the environment, it can be extremely noisy and disruptive. Many jobs have been outsourced to India, and more and more people from India are being imported to work in Phoenix; displacing employees who are US citizens. It is not uncommon for calls and conversations to be in Hindi, where I've had to remind people that not everyone is from India so meetings need to be conducted in English.