The net 2k approved by board on 4/29/25 is complete. It was made up of the 1,200 original from July 2024 with 800 added back overseas net 400, and the 1600 just completed. ☑️ .
The only remaining are select management, and those who were notified but paid to stay 1-3 months to train others.
Source: investor calls
@as I keep waiting for "the meeting" to show up in my calendar
Funny OpenText’s communication team can clearly explain the ultimate head count goal… either they are bad at math or they are afraid to ask Mark to clarify. My guess is on the latter.
This is just standard operating procedure when working at OpenText: precarious working conditions that degenerate in tribal behaviors for those that stick around. For future layoff predictions, watch the stock performance and do your own due diligence for interpreting financial results (instead of current talking heads). MB said a few times that company cannot have more than 2 consecutive bad quarters. The rest is BS and financial smokescreens. Market is losing confidence in OTEX and the stock price's trend clearly shows.
"On April 29, 2025, the Board approved an expansion of our previously announced Business Optimization"
Fiscal year ends on June 30th, so look out on July 1st
Nope. Europe not finished due to regulations. Will be batches of 20-30 here and there for a few quarters.
See ya all at the 2026 OT layoff and 2027 and 2028 and etc etc.
"stay 1-3 months to train others" = "Go get me a stick to beat you with"