Thread regarding Open Text Corp. layoffs

@js But were they expensive for their region? The algorithm only cares about scale.

@jr Yet we know that salaries in some countries are lower and cost the company less, and yet many outside of North America were laid off.

This recent round of cuts went after people who were relatively expensive - well paid, underexploited. It wasn't about performance as many top performers were included. If you're cheap, exploited and have middling performance you have less of a target on your back.

@gn Ha, ha, not it's not, PEs are good at what they do.

@gn the difference is as a public company our shareholders will let us invest in R&D without a solid proof of concept. So we get sc--wed at both ends and the end result is a slow dying company that make the executives and investors rich until they jump ship and sell us for parts and the employees are left holding the bag with minimal money in the bank.

Customers know this, so they buy our products at Wal-Mart prices and demand Nordstrom service and the executives just keep squeezing the employees.

No one buys our products thinking they are innovative even with cool names like Titanium X. The only losers are the employees, customers will jump ship once they can’t manipulate us or get deeper discounts.

This is a legal Silicon Valley Ponzi scheme that Mark B has done at other companies.

That’s why I left. If you continue to work at OpenText, you are not a victim rather you are contributing to the problem.

Please come back and read this 3 years from now and you’ll see I’m right.

OpenText is run like a private equity firm. ROI is everything, so when you cut, you cut higher salaries first.

It’s about pay not performance. Executives see perfection in bots not employees so they think anyone is replaceable. If someone got a pay increase above average, they are a target vs being shielded from being laid off.

@a5 Yep. I had a manager who was helicoptered in.

Every meeting started with a 10 minute discussion on what colour crayon I should use to explain a task or challenge to them.

Once they had chosen their colour of the day, the rest of the meeting would consist of finding ever more elaborate methods of stopping them eating all the other crayons.

just look at pmo, security, cloud all under SB, those who are promoted, are either ardent fan of her style of work or timid yes masters. Those who joined in last 2 years, soon will repent, what a bad choice on their career move.

the problem is somehow the people who got to leadership are insecure about high performers and literally taking off who are valuable to business. unfortunately those got the chair and abuse it most, till the time investors realize and sink the stock to dimes