Pros
Lockheed is a large company and has a lot of resources. If you are a slacker and have good connections with the right people, they will be able to hook you up with a job even if you are less than qualified for the position so this company is a good one to work for if you contribute little and expect a lot. The other good thing about this company is that it has a good number of locations throughout the country and you can usually expect to find a job in the company if you are flexible enough in your desired work location.
Cons
It really is hit or miss but the managers for the most part hate their jobs and they show it. They can't manage. Also, if you expect to get promotions and good merit pay, expect to crawl on your hands and knees and beg for it because management won't go the extra mile for you while they expect that from you. Depending on the location, you may experience blatant racial discrimination where you will see certain ethnic groups getting preferential treatment because management is afraid of the race card being used against them, and people will get preferential hiring opportunities because they know someone of their race in a hiring position.