Pros
There are still exciting jobs to be found at Lockheed Martin in a number of career areas. In the technical arena, if you get tired of what you are doing you have a good opportunity to try something quite new without having to change companies.
Cons
Upper level management at some facilities has appeared short-sighted in the management of the business areas under their control, leading to loss of business in those areas and a subsequent loss of jobs. The Corporation has made strides in industries other than Aeronautics, Space, and Defense, but in light of shrinking budgets in those areas, they could do so much more to further diversify away from those areas and into commercial ventures. Their proclamation of Full Spectrum Leadership, while good in theory, seems to be nothing more than lip service as I've seen many high-level managers completely fail in this regard and still get promoted.