Pros
Having worked at AT&T for any length of time looks good on a resume, but even that is starting to lose value.
Cons
There is absolutely ZERO loyalty to the employees that have built this company. AT&T as a whole is a profit monger and cares nothing about corporate responsibity or integrity. It bases decisions on how well it adds dollars to senior management bonuses and disregards its duty to increase shareholder value. Management is unresponsive. Policies are idiotic and counter-productive. Benefits are non-existent. Job satisfaction is a distant memory. Professional development is stagnant. Training amounts to rediculous HR-related topics and nothing of a substantial technical nature. Employee reviews are subjective and aren't based on any real measure of productivity or value to the business. Contractors are treated poorly. Jobs are cut needlessly and remaining employees are then over-burdened and unreasonably expected to be responsible for the failings of a management team that can't understand that if noone is left to paddle, the boat doesn't move.