Pros
-Lockheed Martin is a great name to have on your resume and the company does have a great history with many important achievements. -The people on my same level were very friendly and willing to work together to help each other meet their goals. -The work week was usually semi flexible. -The benefits package was top notch (although it is currently getting worse).
Cons
These problems are what I noticed as an engineer: -Required, unpaid overtime. We were told to work at least 10% overtime every week regardless of the amount of work we actually had to do. -Very little respect from program office and upper management. Engineers were yelled at constantly for even minor problems at any stage in the production cycle. -Lockheed Martin in Owego, NY is a production facility. Therefore, no research and development is done. Engineering provides support to the technicians and manufacturing groups. Technicians easily get paid more money with overtime pay than many level 2 or 3 engineers. -Frequent weekend work. -Timecard reporting is often difficult and confusing. Collaboration is difficult as you need a work-package before you can even start on a project. -The health insurance portion of the benefits package is hard to use and getting worse for coverage. It is basically catastrophe insurance where if you have major medical bills it will save you money, but for many minor problems you pay 100% out of pocket. -Layers and layers of management. -Constant layoffs. In about a year and a half there were 4 major layoffs. These layoffs were generally targeted toward older employees. Constant fear for your job made people very nervous. Sequestration is especially a concern for this industry and company.