Employees are laid off, the reason given was that they didn't make as many investments as they had planned to, however they turned around and hired in their own people (from their community in Utah) immediately after letting go of staff within teamfront as well as in the companies they were working to scale.
This was an irresponsible mismanagement of money and investments. For reference, the business they had acquired had a long long history of good employee retention with no layoffs.
In addition they have raised prices on the software year after year while the NPS score remains low.
I believe this to be greed over good business strategy.