Pros

Worked for LMT for 5 years and enjoyed most of the time there.
Good management to employee communication.
Interesting work.
Decent salary.

Cons

Employee to management communication channels could be better.
Massive chain of command.
Most immediate supervisor changed frequently.
Move away from Matrix / Functional management leaves employee with potential problem finding next position when current project is completed.

Advice to Senior Management

Go back to matrix / functional management style.
Require employees to complete project before moving on (i.e. stop the 1 year shuffle).