OpenText announced today that it has closed the previously announced acquisition of Micro Focus >International plc, a leading provider of mission-critical software technology and services that help customers accelerate digital transformation
https://www.prnewswire.com/news-releases/opentext-buys-micro-focus-301734613.html
8 replies (most recent on top)
8% of 25k workforce = 2k
$400 000 000 / 2 000 = $200 000
High earners at risk?
High Earners would be anyone not in low cost countries like India.
8% of 25k workforce = 2k
$400 000 000 / 2 000 = $200 000
High earners at risk?
Thats a 8% total which is the 400 million. Previous annoucnements were 300 million from Microfocus and 100 million from OpenText. Duplicate jobs and poor performance reviews are targets first.
https://www.channelfutures.com/mergers-and-acquisitions/opentext-layoffs-8-of-workforce-decision-fueled-by-5-8-billion-micro-focus-acquisition
https://www.crn.com/news/security/layoffs-ahead-as-opentext-closes-5-8b-micro-focus-buy
Buried at the bottom of the press release validates this:
"Consistent with previously announced cost synergies of $400 million, expect to balance the combined company through an approximate 8% workforce reduction due to the acquisition of Micro Focus"
@1hzf+1kXfDaPs - 8% of 25K or roughly 2K employees. Not necessarily just Micro Focus cuts. Can come from any business unit/entity.
Is that 8% of 25,000(combined) or 8% of 11,000 or 8% of 14,000 ?
8 percent layoffs announced for micro focus
Exciting times for both Open Text and Micro Focus!