The real problem is that the entire model is broken and is on the wrong end of a secular change. People are now wearing mobile devices and downloading apps on smartphones which have weight reduction programs that monitor their progress, while texting with other fatties using the same program. The mobile apps very sophisticated and, in reality, are a weight reduction coach that is with you 24/7. No one wants to bother going to motivational meetings with a group of strangers. Unless and until WTW moves away from a physical plant model to a mobile & social model centered around apps and smartphones, they are toast.
"...should bounce by the 3rd quarter." That's exactly the problem. First 'should' is a synonym of 'may' in this context (actually 'may' is more appropriate), and second, why should he invest in a company that will continue to suffer all the way until next fall. There are great companies out there right now that are growing profits, stock buyback, dividends, making acquisitions, and continue to grow. Look into those.