This is confirmed, the tide has been turned
We are hiring and returning to growth
The turnaround has been completed, to be confirmed at earnings next week
21 replies (most recent on top)
@ew layoffs are triggered through workday. it's all automated. "IT" has nothing to do with it except collecting equipment. I helped set it up, then got laid off.
@ew this is correct
@de I think they are saying that IT help desk processes 3 terminations for each new hire.
@cb what do you mean by this ?
@cb what does this even mean? can you elaborate?
@ca LOL. “baghdad bob” … Baghdad Bob a/k/a Comical Ali got the name due to his colorful and blatantly inaccurate media pronouncements. I assume this is what you mean.
Riddle me this, dipsh-t: if what you say is true then why is the service desk processing three terms for every newhire?
This baghdad bob run is so weird. Who is/are this/these yahoo(s) trying to convince?
The whole thing strains credulity.
Growth companies don't hire a new CEO out of retirement who immediately starts talking about a 'listening' tour.
He had months to listen and come up with a gameplan.
A growth CEO would have a plan and be building momentum at this point.
I work close to the c suite and I've heard that new big customers are rolling in
Thursdays numbers will blow your mind
growth :)
next post immediately is about layoffs.
This is the message OT C-Suite will try to sell to Wall Street Analysts next week.
For a myriad of reasons your turnaround is anything but complete.
Again, Open Text is absolutely famous for hiding sins in their financials sheet..and they will again report "exceptional items".
Listen to the call. Read the transcripts..look at the entire picture.
@OP
Quit trying to pump the stock price so you can dump yours.
@a9 the web page is broken - I originally selected several filters, but it removed them all in the web form.
Looks like there's about 250 postings, how many are real? Who knows.
@ad OTEX is brilliant at taking previously solid and high performing sales people and turning them into low to zero achievers.
OTEX just can’t get out of it’s own way.
@ab nó one said it was a high growth company. It's a mature, solid, wealthy company with sustainable growth
@ab I agree 100%. It’s all smoke and mirrors around here. What I see first hand is that there may in fact be limited growth in sales. However that growth is mostly offset by a reduction in maintenance revenue. Open Text is trying hard to move on premises perpetual licensed customers to a Cloud/SaaS replacement. Sure the sale/revenue looks good on the books but the maintenance on the on premises software won’t be renewed once the customer is up and running on the Cloud/SaaS replacement so the increase in revenue is short lived.
I would tend to agree they are on the path to growth if they brought on new logos or upsold new software to a customer they don’t already have. The problem I see on the daily is that Open Text doesn’t have competent sales people that know how to win new customers. They spend almost all their time teying to find a way to sell something to existing logos since most non-current prospects won’t give the company the time of day. Surely they follow the market, trends, etc. and see a real long term investment in Open Text is risky. They would rather look elsewhere and probably even take a chance on a start up then take a chance with Open Text.
OTEX is a shrink (opposite of growth) company by all objective criteria.
Contrary to the parrot that is spamming this site, OTEX is far from a growth stock, and with the current management, it never will be. Actually, the current management may have damaged it such that no management exists that can cure OTEX.
A growth stock is a share in a company expected to grow its sales and earnings at a faster rate than the average market, often driven by innovation or expansion. These companies typically reinvest profits to fuel further expansion rather than paying dividends, resulting in high price-to-earnings (P/E) ratios and higher volatility.
OTEX has no growth in sales, no innovation, no expansion, no investment, and pays a dividend. It can temporarily increase a few metrics with layoffs (margin, expenses, etc.), but eventually there are no people to layoff, and the layoffs ki-l the innovation, so sales drops. The AI is mostly a BS excuse, and is doing nothing to add to growth.
@a7 US the only country ? That's the kind of thinking getting your as--s kicked again in the Gulf
There are 254 current openings and yes I can confirm I've heard that the tide has turned also while working in Waterloo
The energy in the office is incredible
There are currently 37 openings (Showing 1-20 of 37 results - https://careers.opentext.com/us/en/search-results?p=ChIJCzYy5IS16lQRQrfeQ5K5Oxw&location=United%20States)
For a company with 21,000 people, that's %0.0018, not even enough to cover 2% yearly attrition. This is a huge red-flag.
Ayman please stop posting here and do your job.