While WWE is in the process of making cuts due to investors concerns, TNA Wrestling is in a completely different boat. They're in the midst of negotiating a new domestic TV agreement with Spike TV and negotiations are not going well.
Spike is very concerned about the lack of star power on Impact, the amount of big names that have left and the concern that even more will leave.
Therefore TNA is trying to bring in known guys that aren't very expensive to show Spike that Impact will continue to have household names on the show (even though that's a stretch for some of the names they've brought in, specifically referencing the guys that debuted in New York on Wednesday).
The decision to bring Matt Hardy back was part of this and the desire to keep Jeff Hardy happy for the longterm has become a major priority. Many in TNA believe that Kurt Angle has one foot out the door and worry about losing Hardy as well. They're hoping that hiring Matt will help keep Jeff happy, not to mention them letting Jeff do the Willow gimmick he wanted to do even though most in the company thought it was a bad idea.
However in the midst of all this, we're told MVP is "miserable" and already wants out. We're continuing to track his status but he semi-worked in New York on Wednesday with a torn meniscus.