Pros

They have had some prestige client contracts.
They have an old famous name, storied history.
Recognized World Wide, relatively gigantic.

Cons

They had to lowball to get prestige client contracts.
Clients always expand beyond the contract, insisting on same price.
Initially sends "A" Team to new contract, then immediately cuts employees and uses contractors.
Outsourcing obsessed.
Cost cutting always done at expense of front line workers
Manages by spreadsheet. How many conference calls can my Mgr do?

Advice to Senior Management

You've lost it. 1970's management methods in a 21st Century environment.
You've destroyed employee morale. Quit treating employees as liabilities.
Get back to core service, local support services.