Seems pretty clear they are cutting payroll expenses to make the company more attractive for an acquisition. Highest paid, most successful folks go first - biggest impact on payroll. Then sell the services business to Cognizant. Then sell the technology business to SAP. Executives get their sweet golden parachutes with stock deals.
Haven't really thought about this before, but now @XgRQBtc-1iyn has me wondering. Could this really be the case?
the buyer needs to trust it is not just makeup
Even if TD gets acquired, they will still need HQ buildings. Any acquiring company wouldn't shut down, or even move the necessary development/support functions. Services business would have to be sold first, or at the same time. Tech companies are more valuable if services are under 10% of total software revenue.
And if TD owns the RB buildings, it makes it an even more attractive target with valuable real estate assets on the books.
We already own the buildings in RB so it not unnecessary expenses, if anything getting rid of lease agreement and consolidation operations from Dayton is a major impact to the first steps in M&A transaction
Why spend all that money on the new HQ in RB? That would seem to be an unnecessary expense if acquisition is the goal.