The last CEO left in December of 2023. The company has been going downhill since then. The new CEO is very much behind profits and has no long term vision. They brought in a COO who thinks every company is a page out of an MBA book.
Just because a few bond issues failed and they didn’t have enough revenue for the next six months, they did a layoff in 2025 May. Bond issues passed in the next six months and they started rehiring in Nov 2025.
In these six months, they could have simply kept the company afloat without layoffs because the management keeps raving about having cash in hand and no debt. They designed and built a new office all by themselves without external funding.
They cleared off 10% of the company for nothing and a bunch of employees who weren’t laid off decided to leave as well. Now the company has very less technical expertise as compared to just less than a year ago, but there’s so much project work coming in. So the quality of work would have significantly gone down and now they are hiring aggressively.