Pros
PTO, 401k, and generally good life/work balance depending on job function and department. Some of the low and middle managers are great.
Cons
Major IT decisions made by high level executives who know nothing about IT functions. Diversity for the sake of diversity in promotions at the higher levels. Lockheed should be on the forefront of technology, but they are not only behind, their decisions show they'll never catch up, this goes back to VP's with no IT background, making major IT decisions. The latest restructuring of a certain program's IT dept is one of the most absurd moves I've ever seen in a dept. Creating more job difficulty and time consuming tasks in an attempt to interject Agile surveillance so the newest VP's can make more layoffs and cuts to make their numbers look great as new leaders.