Thread regarding Gainwell Technologies layoffs

I’m grateful for leaving when I did. No one should have to work that hard for such little rewards. I don’t understand how you could be so cheap and honestly rude to your people and expect to succeed. We are going through hard times in our country but working there made for a miserable life in the best of times in this world.

What types of jobs are the first to go in such a transaction, other than overpaid executives?

When Veritas purchased Gainwell from DXC in 2020 the sale price was $5 billion.

They aren’t going to take a $4 billion dollar bath on a sale.

The company’s reputation has declined. Their value has declined most likely. However the poor leaders have strategically dumped money into fake awards and recognition. This makes the company appear to be better than it actually is. It will be interesting and telling to see the price agreed upon.

What's the sale value then, do you think? 500 million, 1 billion?

If they don’t sell soon there won’t be any value left to sell.

Veritas sure has mismanaged Gainwell. They have ran it into the ground. Gainwell continually struggles to just keep the business that they have. They have multiple corrective action plans (CAP) in motion. That means that the state is not happy with their performance and has put them on notice. If they don’t fix it they lose the account. They have lost multiple accounts, some are accounts that the company has had for many years. They are struggling to bring in additional business to make up for the bleeding. The company has been mismanaged so badly that Veritas either needs to just sell or they need to drain the swamp and bring in ALL new leaders that actually know how to operate a company like this.

My take is that Veritas didn't know what they were buying, and didn't know how to run the business after they bought it.

The sale price will be telling. However maybe the only thing that matters to these companies is how much money they can squeeze out of the business before they pass it on to the next buyer.

Nothing would surprise me any more about Gainwell.

From what I understand yes it is another investment firm.

To those who seem certain that a GWT sale is upcoming, do you know if the sale is to another private equity firm? Just curious about that.

I don’t think it matters who Gainwell is being sold to.

With every sale comes uncertainty. And a whole lot of risk for the employee.

I don’t know who posted this. But my inside source tells me that negotiations are currently going on for GWT to be sold.

Who's the buyer?