Pros
This company's core competency is engineering. If you are an engineer, you are treated with respect and valued. Northrop also works under the 9/80 schedule, which means that every other Friday is an "off" Friday, which is awesome! Great medical benefits - about as close to what you could hope to get from a non-government job.
Cons
If you do not work as an engineer beware! Engineering is but one of the many essential functions that are supposed to execute a company's business model. I did not work as an engineer; my managers had no clue as to how to increase my productivity (by removing large obstacles), nor how to identify the root cause(s) of the systemic process failures, much less eliminate them. This company is prone to booms and busts - massive hirings and massive layoffs.