No communication by middle management
Very passive/aggressive middle management
Difficult to get promoted or get good raises; no bonuses
Performance review system is awful and lots of "surprises", so be careful
Very big and you are "just a number"
False sense of job security
Skills and job satisfaction can erode around 5-10 years; dead-end easily; hit a glass ceiling; Can get boring after a while
Very little and/or inconsistent effort by management working with employees for career advancement or placing people on new projects once a project ends; In recent years, you will get a few weeks notice to find a new job in the company or relocate, or else they will fire you - career development at Lockheed very "sink or swim".
The immediate people I work with and for were great for the most part. I used to like the open-door policy and honest communication by managers there, but things have changed fast in recent years and it is no longer a good place to work in my opinion.
Cutbacks in defense industry in recent years are not good either and have not helped.