As of 15 Nov 2019 Aptim does more than continue the unannounced sudden layoffs everywhere, from managers to office clerks. They are in total redesign mode closing and consolidating offices and trimming their workforce to the bare minimum. I can only surmise that they are planning to sell what’s left to whoever wants to take it off their hands. They made a lot money and intend to bail before their return begins to diminish.
I hate LBOs. Veritas is a prime example. They used the name Aptim to buy out and rename what was left of CB&I. After that, I knew it just a matter of time before this once-great company would be dumped and cease to exist. Do BonTon, Toys R Us or Sears ring any bells? These are excellent examples of what happens in LBOs; they don’t invest in these company’s futures, they only care about lining their pockets with the profits.
I can only hope that some day enough people will wake up and stop these greedy private equity firms from destroying so many good (albeit small) companies and the jobs in and related to them.