Pros
Ethical conduct among all employees in my program. Most of the people were genuinely good people. We had a good culture of cooperation, and most of the team was willing to help out each other. Good pay and relatively good benefits. A number of positions can be worked virtually (from home).
Kontras
No defined pension plan (not uncommon), longevity at Lockheed strictly depends upon networking and your manager. There is a tendency to downgrade the level of positions, so that you are no longer competiitve (salary-wise) when having to look for another program to move to (when your contract is winding down). Job security is so-so and should/could be better for such a large company. The downside of being virtual is that you hardly have any face-to-face contact with the rest of your team.. out of sight, out of mind.