Konor well said,

clearly nothing has worked, they have no clear corrective action, things look gloomy, the management has not created much of a credibility, instead they have rose painted all and nothing.

I see a few alternative actions; yes hire a few new bucks to buy some time and possible opportunity, the alternative is further doom. Use this time to look for alternative opportunities, maybe on the other side of the river if it so be, but don't hang around wasting money and opportunities.