I worked at two companies where Elliott came in. First they buy a lot of stock. Then they force layoffs to cut costs and improve earnings per share which they hope will increase the share price. Once the share price goes up enough they sell out and move on. This might take a couple of years. They might broker a deal to take the company private then they will milk the revenue stream. When it is private they will cut costs more to get more cash and then they might take it public again to cash out their stock. In any case it's not great for the employees.
Original poster is @PUR1W1J-oyz.