1) Philosophy is 'do your work, regardless of how much time it takes to do it.' This is fine by itself, as it allows for flexibility, but it results in unrealistic commitments to projects that cause long hours, even for the lower stress jobs. This causes burn out for a lot of folks who aren't able to manage their commitments.
2) Heavily process oriented with minimal room for innovative movement. As a large company, you won't find much opportunity to find creative process solutions.
3) Tools for projects + processes that are utilized are mostly internally developed. This means (for those who leave) a lack of experience using the standard tools of the trade. For example, in 2.5 years I never touched Microsoft Project, Visual Studio, Test Manager, HP Quality Center, Team Foundation Server, Selenium, QTP, or any of the other really common tools for QA.
4) Salaries (for QA) are not competitive once beyond 'entry level' experience. Starting Salary IS commensurate with the market, but because there are no pay-grade raises, even generous raises result in slow salary growth. Let me be clear: If you're just out of college, these salaries are competitive. If you excel at this job, however, you'll be making less than you should after a couple years.