Ann: FY17 H1 Results Announcement, page-9

They made a mistake to go after revenues - $100M+ was their target, when they should have been going after profits. In that pursuit, they went hiring people like crazy. Now they are cutting back and paying redundancies.

You could imagine what the atmosphere is like at work there now...all these new hires, now everyone getting sacked. It wouldn't be a fun place to work no matter how many ping pong tables you put.

It's not a good business anyway because it's too reliant on people..no moat..no good.