Pros
Xerox is still a big name and front runner in technological research. They research new technologies in their own industry niche and they also have done cancer research and promote humanitarianism. I started at Xerox as an entry level employee in Information Management. Xerox had the best starting salary offer of every employer I interviewed with. Their heath care benefits are decent, but are actually consistently better (and cheaper) than benefits many of my friends and family receive from their employers.
Kontras
Like a lot of large corporations, a sense of bloated bureaucratic methodology floats around water cooler discussion. There is sometimes a sense there are too many people doing the same thing. Xerox also places high priority on process organization and systematic management certifications like Six Sigma. These certified managers, who were once looked up to, are now a dime a dozen. Project management progress is also often hampered by mandatory processes and template framework for planning.