Anyone know when the round is coming that James spoke of in the all hands , he said "we still have 150 million to go to right size the company "
Does he mean in fy 26 or fy 27? Will they wait for the new CEO to do it ?
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Yes March 23rd
@1qc On another thread someone said March 23rd
So looks like two weeks to layoffs ? Anyone have inside info ?
@1fs getting rid of a the ELT will save the company millions.
@1fc They've already stated that a reduction is still needed. They are carrying MASSIVE debt. Those divestitures aren't bringing in value as they're being sold out of desperation at pennies on the dollar compared to the initial acquisition costs. Because the stock price is in the toilet and it's the only move they know.
@q why would they lay people off if they are divesting ? Makes no sense
There will be activity in the next couple of weeks. In some areas it will be clear the business is being exited.
The best day in my career so far was leaving OpenText. There are good people and management there but the ELT is the worst in all the tech industry. In my 35 years in IT, I’ve never seen a more clueless group of leaders. They have no long term plans and believe their own hype hoping somehow things just work out. Anyone that thinks OpenText can run on AI bots needs to have their head examined. Employees should just do the minimum otherwise if you go above and beyond you are giving the ELT false hope things will work out and the only loser are the overachieving employees. The ELT will leave and get millions in a golden parachute. Do the minimum find a new job and be much happier.
Don’t wait to be laid off and don’t think for a moment you have job security. Start looking now. Don’t be loyal to the company, I assure you, they will not be loyal to you. Ask around to people who left OT to take jobs elsewhere - it’s like they broke out of prison.
Take care of yourselves. The stress of being job scared takes a toll.
AI will be the catalyst to lay people off when Aviator and CoPilot su-k equally at OpenText. When you leave or get laid off, you are required to upload your data to CoPilot and Aviator.
AI will be used as the reason.
Real reason:
We mismanaged the company & misjudged growth and we don't need as many people as we thought
Never think it won’t happen to you! I was part of a small team there and they kept telling us we were same until it happened to us! My manager bold faced lied to me daily until he decided to work from home the day it happened! Thanks Mark!
Are there any rumors that Ayman may back out of the CEO role? If he does join in April, my guess he’ll be here 2 years tops.
@ee
Even if your prediction is accurate..The next fiscal year is 16 weeks away.
Just over one fiscal quarter.
When OT makes that claim (if again you are correct) it usually means there will be a sizeable layoff the first week of this July.
Still I would advise anyone at OT to prepare..save as much as you can. Again regardless of when, OT is a one trick pony, only lever they know how to manage their business is via Layoffs..
Please be prepared.
@g3 the Ponzi scheme is up and the executives are looking to exit the burning building with telling everyone there is a future and everything is good.
Layoff is a regular ritual of OpenText. I was instrumental in merging acquired companies starting from eDocs, Xios to MF. Mark came and left in between. Tom Jenkins is the main mind behind this once he changed his leadership role to more of a king maker than being a king.
The only thing I see works in OT, is being on good books of those Canadian heads. Skill, performance, technology is just a eye wash. Dont think Shannon will be here for long as well.
Like other Canadian miss-managed tech companies Nortel, Blackberry , OT is also dug own grave. Its just matter of time.
If you have opportunity else where move quickly, as working under stress is no fun. No matter what OT will not change other than managing PR houses.
Satal was there only 4 months. He prob saw the mess and left
Sanket Atal -"India Country Head and Senior Vice President, Engineering" was laid off few days back - quietly. More leadership positions are planned to be cleaned up.
@ee Oh, I'll take that bet, numbskull.
@fh Did someone strike a nerve?
@c6 "Working here is like being in the movie Groundhog’s Day. No one knows what tomorrow will bring."
Firstly, it's Groundhog Day. No possessive. Secondly, the premise of the movie is that it's the same day over and over again to the point that he knows everything that's going to happen down to the second.
You are an id--t convinced of your own genius.
Next time, you should just try to make whatever point it is you think you're making as simply as possible and stop any and all attempts at being clever. You're not suited for it.
There are no layoffs until next fiscal year
We need to form a union.
March, July, October
@d4 we need to stop partying like it’s 1999.
@OP
Honestly I would worry less about precisely when..it IS going to happen and likely soon.
Do you have at least 6 months savings to live off? Are you personally prepared if your 'number comes up'?
This is a Tech company...The Tech industry has been cyclical for 50 years..Most companies in the early days just tried to weather the storm but around 1999 the gloves came off and every time there is even a brief cycle..the hatchet comes down. The worse run the company..the more often there are layoffs. Open Text is literally the WORST..so it happens all the time but especially now..when Institutonal Shareholders have said enough is enough. This year plan on the hatchet to come down hard! Get a plan together, 6 months savings and start networking your a-s off. Don't expect the package to be generous if there is a package at all. If you miss this round of layoffs do not, I repeat DO NOT GET COMFORTABLE
..understand this is part of how this company operates. Get prepared.
Layoffs will continue until shareholder value improves
Beware the 'Ides of March'
Working here is like being in the movie Groundhog’s Day. No one knows what tomorrow will bring. Every new day is a blank sheet of paper. If you are not putting in a full 40 hour week, if you are a high paid employee or if you are not in a revenue generating role you are always at risk of being let got. Management is not running a ton of analysis. Every decision is made last minute off the cuff. Most employees would be stunned to see what little information the ELT works with to make decisions. People think there is a ton of review when in reality it’s an HR spreadsheet and they just as managers to rank employees.
@bd
open ended questions related , what all areas of work you are currently occupied with, dependency, risks, who can cover in your absence and so on.
Also check is there any other job roles posted, which likely match your responsibilities and skill and purposely not meant for you with a faint inclusion of skill that you dont have, but not truly needed by business.
Asserts your scope of work? What does that mean
After Career week, after 1 qtr, if your Manager asserts your scope of work, you know, your name is shortlisted.