The perils of private equity - Anonymous employee Penta Group Employee Review

Private equity is in the process of destroying what were (less than a year ago) successful separate companies. Penta has missed 2023 revenue projections set by the board each quarter so far, leading to multiple rounds of company-wide layoffs. Employees who have been there for years have been laid off with zero notice and the severance they are offering is pathetic. Others are quietly being denied expected promotions and raises. Staff in most departments are already overworked and underpaid, so it remains to be seen how they will be able to grow the business when they keep axing people. Leadership's desperation for more money has allowed significant scope creep from existing clients in hopes of increasing the value of current contracts. A "hiring freeze" has been in place since the spring, though certain departments favored by leadership have been able to skirt the freeze and hire new people - even as they lay off employees in other, less favored departments. TL;DR Thanks to its new private equity overlords, this company is a sinking ship. I DO NOT recommend applying. Any current employees reading this should leave ASAP.