Pros
Pay is decent for the industry, great brands and smart (if disillusioned) people and work-life balance isn't terrible (usually).
Kontras
Management is singularly focused on bottom line at the exclusion of all else, creating a a constant state of emergency. If you are not Brazilian, chances for advancement are somewhat limited, especially at senior levels. Constant planning cycles prevent actual accomplishment of goals outlined by planning cycles and bonus targets drive everything, at the exclusion of what is right, strategic and rational. Sr. Management is not interested in engagement of their teams -- solely with results, which leads to poor results. Everyone is afraid to stand up to and disagree with often misguided decisions from senior leadership that are based on nothing but intuition with no support. No process whatsoever, no institutional learning or knowledge. It's complete chaos getting things done because people move around so often. Focus on very young (and often inexperienced) talent only from top 5 B schools. If you're not a GMT or GMBA from one of these schools, opportunities for career advancement are limited as well. Employee communications and HR functions are among the worst I have seen. Overall morale is poor.