Pros
For some geographic areas the pay can be fairly competitive. Management is spread so thin you're allowed to develop regional workarounds to the company's shortcomings.
Cons
Hard to know where to begin. Lockheed IS3 employees are second-class citizens within the company. Getting answers to the most basic questions (pay, benefits, sick time, etc.) can become an endurance trial. Two employees working in the same place can go seeking an answer to the same question and get two different answers. Was told upon hire that raises and promotions do not exist. Benefits were greatly overstated at hire, turned out to be far below what is average for the industry. There is a complete lack of information flowing downward from the top. We learn more about what Lockheed is doing through the client than we do through Lockheed. The client has been redefining job functions and staffing levels (downward) on an almost weekly basis for months. Individual performance reviews aren't even done by Lockheed; they're the purview of the the client.(A performance review is a moot point when there is no possibility of promotion or raise.) There is a lack of guidelines and standards about how to perform job tasks, and those that exist are constantly changing.