With everything that is happening and on the horizon everyone should get out before it’s too late. Gainwell has some serious trouble coming up. Massive debt coming due that they don’t have the funds to pay, looming whistleblower activity, and their lack of ability to manage their finances. They are in serious trouble. Staying employed there is a sure recipe to be out on the street with no job.
Past time to walk away.
I was able to find a different job and escape Gainwell. I know a few others that have done the same. I’m not the OP but I would have to agree with them. It is long past time to “just leave.”
This site may not be the best place to visit if you can’t handle the truth. The job market is always tough. It is always trash. But that doesn’t change that it is time to “just leave”.
@OP Do you have a job you can offer me??? Trust me, a lot of us are trying to get out just so we don’t end up jobless. The job market is absolute trash right now. I’ve been actively looking for a new job for a year with zero luck. In my 15 years in the corporate world, it’s never been this hard to find something better.
What is really sad... They could have turned this whole mess around within a couple of years. But they chose to keep people that helped build the sh!t-show that Gainwell is today.
Rather than spending money for a sound foundation and following common sense processes, they made everything the Wild West Show and totally retroactive. Why keep a fire from starting when you can spend at least twice the resources to put it out.
You have some greedy people dipping their hands in the honeypot for their share before the head honchos bail out with their bonuses and other financial benefits.
Why is everyone so closed minded?
Why would you want to be part of a company like Gainwell?
There are alternatives to Gainwell. States will kick them to the curb. It won’t happen quickly but it is going to happen. We aren’t talking about just missed SLAs here. What they are doing is illegal. Not to mention they are in financial trouble. Bankruptcy is on the horizon. It won’t happen fast either. But they aren’t suddenly going to find $5 Billion laying around.
It appears to me that the employees are closed off to reality. Staying in bed with Gainwell is the worst option.
It’s all building. It won’t be fast but Gainwell is in some serious trouble. Criminal proceedings are a definite possibility. And a high probability. The next two years are going to be extremely tough times for Gainwell. They are already losing more business than they are taking in. Look at the number of contracts that they have or states that they have compared to a couple of years ago. Huge decline.
OP is right. Time to wake up.
@jb Agreed. The legacy systems will be in place for a very long time, with support and maintenance staff retained to keep it going. As far as new system implementations are concerned, it sounds like that pipeline has dried up.
I agree it will keep going as usual. The people who own the company are billionaires. They don’t hold the same type of accountability as the rest of us. Instead over time the company will become less and less profitable due to missed sla’s and fines. Already paying ungodly amount in penalties each month to states because of this. Business as usual. The only way things will change is to keep them in the media and political spotlight. Where’s the new Bloomberg article promised?
There will be no criminal proceedings. That is just someone's wishful thinking.
The states are not going to kick GW to the curb. There's no one else to take their place.
The boring truth is GW will go on and gradually sink lower and lower. That process will go on for years. Don't sweat it if you're going to retire soon.
The ship is sinking fast. Anyone that can’t see that needs to wake up and look around.
If you have been reading this site very long I think it’s obvious what OP is referring to. $5 Billion in debt coming due in 2027. Bloomberg articles will most likely trigger a massive investigation. That will most likely result in criminal proceedings for the company and many employees. Faith in the company from states will plummet. States will pull out. Gainwell value will take a nosedive. Layoffs will be massive. Gainwell will have no choice but to declare bankruptcy and sell for a fraction of their value today.
It is pretty obvious the writing is on the wall. I would have to agree with OP’s advice. Probably should get out now before it all goes down.
And if you don’t think it’s going to go down I ha e a bridge to sell you.
I appreciate others experiences about gainwell, but please provide some details. Never sure what is real vs. rumor or someone just goofing around. This is serious business. Thanks
I couldn’t agree more. Getting as far away from Gainwell as possible is in every employees best interest. And as soon as possible.
Once things start to happen it will be like rats fleeing a sinking ship.
Make it on your terms. This company is as bad as it gets. Don’t be fooled. Get out now.