Should I take that as a good sign? Or is it just the calm before the storm?
14 replies (most recent on top)
It’s always raining at OpenText with dark clouds over all of us.
@1yp and good RSU packages for executives with golden parachutes.
@1y8 Nah, operational disfunction is also a given
Layoffs are always coming, it’s the only sure thing at OpenText
What are you guys talking about? Do you guys even work here?
OpenText has never stopped laying people off. It's in small chunks and slowly. There are no "massive" layoffs at OpenText, they are playing it safe like a greasy rat.
Layoff is coming. There will never be a time where this is not the case. The business model requires it.
@b1 the big one will be after annual reviews are conducted this summer. Through the calibration process there will be a mandate to have 10% of employees with the lowest rank of 1, 20% of employees ranked 2, 50% of employees ranked 3 and 20% of employees with the highest rank of 4. The 1s will be laid off and the 2 will be put in PIPs. Right now they are hoping people leave voluntarily.
Part of the Open Text business operating model is continual layoffs and has been for years.
It is built into the annual ops planning process, along with estimating voluntary attrition.
IMHO, the question is not, "if it will happen", the question is when it will happen.
@a6, is this confirmed or just your guess ?
They're waiting to see how many people self-deport because of rto. The axes will fall in a couple of months.
Just recall, Feb, March last year.
There were lot of hiring, many new projects started, too much on social media. Then we all hear that big loud sound in April.
OT executives are paid to play that playbook.
Within two weeks there is a huge layoff waiting. Expecting around 5-10% cut
100% calm before the storm………
Calm before the storm. All signs point to a layoff if you pay attention to earnings and all hands.