Taking on water too fast, the lifeboats left, now a mix of jumpers and remaining officers tossing the remaining crew overboard.
Merged company, culture in legacy East Coast HQ that included was cronyism, protectionism, fire-fighting heroism, directionless, hypocritical garbage that produced an unstable, cash hemorrhaging pile of trash that ended up being selected as the core platform. It was dying before the merger happened. Coupled with a private-equity managed environment that is equally clueless in what it takes or how to fix core issues.