QAD was acquired by TB in November 2021, shortly have this had completed in January 2022 there were layoffs, an announcement to close and sell the head office. Looks like more out sourcing to India, it doesn't look good for those remaining!
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One year under TB, another round of layoffs or restructuring, whatever they call it. QAD didn't hit their revenue targets but did hit our EBITDA goal, which seems like its the only goal that matters since its directly tied to everyone's bonuses. On Monday it was announced that we would have about a 12% reduction in force. Lots of long time employees were let go and they are being replaced by cheaper, offshore resources. It honestly feels like everyone that remains is just living on borrowed time, eventually your name will be called. Only incentive for some folks is that when TB sells QAD again, we might be able to get a nice pay day based on the incentive plan they offered certain employees.