Do we really have NO idea who any of the prospective buyers might be? The burn rate for Veritas has got to be incredible at this point, and unsustainable, even for their deep pockets. Are they really just going to let this failed company go into receivership and liquidate?
Without a very substantial influx of funds soon ... the end is nigh.
Just sh-t-can the top layer
So what is this grand plan that will turn the ship around for Veritas? If they are going to do that in 18 months they better get started. So far we are just seeing more layoffs and more C level employees.
Bankruptcy is coming up fast.
I know everyone on here is trying to justify Gainwell into a good company. And to justify them doing the right thing.
But they are not a good company.
They are being negotiated for sale right now. They will be sold.
Veritas has laid out their cost saving criteria. It plainly spells out that reducing FTEs and increasing offshore contractors or employees is their strategy.
They have spent the cash reserves. Without an influx bankruptcy is not far off. Gainwell is not drastically changing its spending so those reserves will be in the red soon enough.
Straight up poor leadership. Veritas has had this nightmare for three years. They are preparing to move on.
I’m not sure why they would sell Gainwell yet. Guidehouse just sold to Bain for $5.2B after being a complete mess. Veritas is going to turn this ship and then sell us for a massive profit. My guess is 18-24 months.
Who is Nanban?
I think Nanban could make the "true friendly" purchase. Can someone post when the layoffs are at 44.5% please?
I’ve heard that nanban is looking into a purchase such as this
The sense of urgency to sell grows by the day.
Layoffs will continue in an attempt to stave off bankruptcy.
And as business is lost nearly daily the value of GWT declines.
One of the bids is by Mukesh Ambani. That’s why the switch from mexico to india.
At this point, even DXC looks better!
Word on the street is Veritas has offered to give DXC 1 billion to take it back.
I heard that they're very diligently trying to make a deal, but so far they only have a few offers from some low-balling tire kickers.