Vantaggi
Ericsson is a globally established and well known company. The pay is competitive and the benefits are better than any other company for whom I've worked. There are many smart, capable, quality people you'll be working with on a daily basis. Their technology is diversified enough to provide interesting challenges and opportunities.
Svantaggi
Ericsson has the Swedish mindset throughout the company - extremely risk adverse and wanting absolute, unanimous consensus before any strategic decision is made. This results in moving much slower than competitors to exploit new opportunities. While the reluctance to let under-performers go creates much more job-security for everyone, it does lessen the feeling of accountability and urgency needed to progress a company.