OpenText is pretty much a closed shop in regards to what is happening. Thank you to those people on here who are close to what is happening and know dates/BU etc and continue to share that information. Even though it is never good news, it is good to have that insight, please continue sharing information that is factually on point 👍
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@kf “…it will still be like trying to separate two different colors of Play-Doh. You can pull them apart, but bits of the other will always be stuck in the fibers of the original.”
Perfect analogy!
Trying to fix OpenText will be like trying to put a scrambled egg back in its shell or putting toothpaste back it its tube.
On the bright side we did almost nothing to integrate IT systems, cultures, and payroll after acquiring companies. So it won’t be that hard to “un-merge" and sell off non-core divisions but it will still be like trying to separate two different colors of Play-Doh. You can pull them apart, but bits of the other will always be stuck in the fibers of the original.
@c7
IMHO The bloodbath won't be over until the company is totally broken up and sold off for parts (OR)...
PE comes in, buys the whole thing, (taking it private) and skinnies up the balance sheet, sells what they can, and sustains EOL support after sending EOS notices to customers for PL's nobody wants (and some of the product technology is already out of date).
Either way, these gut wrenching rounds will not stop and I guarantee you they already have the list for the next round.
I would focus less on the date and prepare for more rounds.
Start networking...you would be surprised how many people will help if you ask. Start applying for jobs. Stop contributing to your OT 401k..(you will get more in your net paycheck and severance checks) ..Put that money away..You will need it. Until you land your next gig .. All non-essential spending should stop.
Thats the best advice I can give after my (very long) career and having been laid off 3 times.
Please prepare.
Wonder what ELT will leave in April. My bet is that Duggan is gone.
It was closer to 5%, of the company.
Hey everyone, journalist at BetaKit here. We're trying to accurately cover what's going on at OpenText so please reach out to me on Signal @madisonmcla.12 if you have any information about the layoffs/restructuring. Thank you.
@ch As someone that's endured the long knives before, leaving depends on your situation. If you have been at OT five years or less, give or take, it's in your interest to start looking now, and plan an orderly transition. From what I've seen, it takes 4-6 months to land another gig. Hopefully you have time, and doing it now gives you choices you won't have if you are cut loose. This is what happened to me at Lucent. I stayed, and didn't get enough severance to cover, and I had to take the only gig I could find at far less pay.
If you have more years of service, plan on max 3 months of severance (from what I've read here). If you have savings and can endure a 6 month search, stay put and grab the cash. Better yet, start looking now and take the W if you get cut loose with cash and a job to go to.
Last group is like me now. I have a long enough tenure (due to my company being assimilated) and savings, and I'm early retirement age, so I'll take what I can get, shrug my shoulders and walk.
@c7 so there will be a few more today, it should all be complete by end of day today
It's long past time for everyone to just walk out. The lights are flickering in the ghost towns of barely populated OT offices. Don't let them take advantage of you any more. Just leave.
@c7 I would say the bulk are done. There may be some quiet ones.
But I have a gut feeling that the other layoff rumors would be accurate as well. Some teams can be spared until quarter end, year end; and then have quiet time to handle layoffs. It could also be convenient as I think summer is when they're going to try and have our agentic AI available to potentially mitigate that.
If that timeline is kept, there's always a chance forced knowledge transfers lead to more from that agentic AI. I dont expect numbers nice enough to stop them so far. I'm just not seeing the volume so far.
Our interim CEO sent an e-mail about this "business optimisation plan". Do we know if the bloodbath is done or or not yet? I heard maybe some layoffs to come until 31th of March but it's just a rumour.