It's really not the "Walmart's or Disney's" that are what they once were, its the smaller more tucked way companies that aren't public that end up being sweet. Being privately held is key, no shareholders or govt to answer to. There is thousands of these companies out there that people have never heard of. The company I'm at has been in business for almost a hundred years. They've had an airplane of some type for the last 40 or so. They went through one of the worst economies since the great depression, laid off around 150 employees but kept their 12 million dollar airplane. Right now it's just me and another guy that make up the "flight department". We get benefits, vacation, 401k etc. If we need a day off we get a contract guy, no questions asked. No pagers or on call, I've been here almost three years and never had less then 3-4 days notice of a pop up trip. Sure my schedule changes a little here and there but no different than getting extend on day four when your trying to make your commute.
To me all sectors of aviation are a crap shoot. You used to get a job at a major and you could call it a career. Those days are long gone, they died with the TWA's, Pan Am's and Western's. if you're over 40 and at a major now like Delta or United you might make it to retirement with out too many issues. But some one getting hired at any major that has 30-35 years worth of flying to do, will end their career in a totally different way then what they thought. Ask all the guys at American that have been furloughed several times since 9-11 how they feel about this awesome merger that just got approved. I guess that's the beauty of flying, there's always going to be a niche out there for every one.