I could be wrong, I could be right, but Private Equity wants their money back. Worked for another company that was gearing up to list on the stock exchange and wanted to increase their margin (not in itself a bad thing), and in less than two years they took their money back. If you've worked for the company for more than 5 years, you are on a target list
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This is a guarantee. The will cut until they get the number they want. Ruthless.