Vantaggi
Good environmental policies (e.g. you can expense carbon offsetting for business trips), treats employees like people rather than resources, 25 days' holiday, flexitime (to be agreed with line manager), friendly and considerate colleagues, opportunities to travel to Finland (if you're lucky - there is a travel ban) which is a beautiful country full of lovely people. Some (though not all) offices have excellent subsidised staff canteens. New CEO will hopefully turn things around and make Nokia a more software-focused company.
Svantaggi
Huge company brings with it an inevitable level of bureaucracy. Many layers between the CEO and the average engineer mean it is hard to feel engaged with company strategy etc. Frequent re-organisations leading to people not really taking responsibility for things and not ever having to eat their own dogfood. Questionable tools & processes. Losing market share. Just announced big redundancies. Employee morale amongst the engineers is pretty low at the moment. "Not invented in Finland" syndrome - an idea has to have a Finnish name against it to get anywhere.