Some people say June, others July
Which is it ?
24 replies (most recent on top)
@sh f”ai”l
@es that is correct. Excuse for that layoff of AI and now OT is doing so well in AI . 🤪
@ez what's the expected percentage cut ?
@ey July 2024 layoff was a one time event because of the ill convinced MB purchase of MicroFocus. One layoff in one year isn’t an annual trend or event
Both, some in June, some in July. WFRs are spread out for a variety of reasons, including that HR can only manage so many at a time. There's a whole process whereby immediately upon the WFR notification , a number of steps have to take place, and only so many can be done within a certain period of time simply because of manpower.
There is absolutely a set percentage of employees who will need to be removed from the payroll. All based on financial plans around payroll and benefits. The company is working backwards. They aren't identifying employees who they don't need or who aren't performing. They have identified the dollar number they need to be at come July 1, and eliminating employees to reach that number. And the cut is massive.
This isn't something just random. Every work group, every job title, has a July 1 dollar number for payroll and benefits that supports the final expense number for employees company wide. The company will get to that number. They're in that process right now. So a lot of people who are great performers will be slashed. Some in June, some in July,
@e3
I respectfully disagree. In 2024 first week if July 1200 were laid off. Only a handful were from sales that time...(though July is also when some sales folks get cut).
@eh
Timing is important for one reason. If you get laid off in June you do not qualify and will not receive your annual bonus, regardless if you worked all fiscal year.
If you get laid off in July, you do get your bonus in addition to severance.
Every penny counts when you have unexpectedly lost your job.
Additionally many folks in the US anticipate they will get paid accrued but unused PTO. This only applies in 4 states in the US. If you are not in one of those states, timing (and that annual bonus) are even more important. Also, the most you will get from OT based on years of service is 10 weeks severance plus the 2 weeks.'notice period'.
So in that case, again, timing is particularly important. Every penny counts.
@cb
In 2024 1200 people were let go in July. It also happened in 2023 and 2025.
@ed A layoff is a layoff.
Why is that important?
@e2 not on my side of the business. If you are in Europe then that makes sense as US and Canada layoffs happen immediately where EU layoffs take months. Even though the Europe layoffs may tend to happen in summer they actually start the layoff process for them in the Spring. They have more stringent labor protections in Europe.
@e2 only for sales, not everyone works in sales you know
@cb OT had July layoffs in 2023, 24, and 25. Are you stupid, or sumpin'?
Yes. End of June, beginning of July.
What happened to 15-20% in June / July ? Lol
@c5 it will be June since this will be a Kitchen Sink quarter of writing off bad assets and clearing out the remaining legacy leadership and management to start FY27 with a clean slate.
The exit of high-profile leaders like Paul Duggan suggests that the friction at the top is peaking. When the people who usually have the best view from the bridge start jumping ship or getting pushed, it’s a clear signal for everyone else to check their life jackets.
@cb same. But this time feels different. New CEO, divestitures, layoffs without insight or understanding, etc...
While a bunch of posts are (understandable) hostility, I've learned to trust the posts here holistically, if that makes sense. The overall information is generally solid.
I also still work for Opentext and the pattern of layoffs in my business unit is March-May (layoff) or Nov-Dec (merit cycle). The only summer layoffs I have seen are salespeople who don’t make numbers or from acquisitions where duplicate functions like legal, hr, ate eliminated.
@bh
Totally get your frustration. (Trust me, I really do).
However some are legally barred from 'getting into details' particularly if deals are pending.
It's literally against the law.
Also HR pending actions are highly confidential and are bound by strict privacy laws.
That said, the stock is telling a story and has been for years but especially lately.
Maybe the message so many on this board are trying to convey (without getting sued or arrested on insider information charges) is please plan ahead for a potential break in your employment. The company is desperate. The writing is on the wall.
High profile exits (not just Paul D.) are happening routinely. Large layoffs (the March 28 date of which was accurately predicted on this site) just happened. Further there are whispers of more to come.
New CEO coming in and a Board that, let's face it, has egg on its face for waiting so long to bounce the former CEO. So this forum isn't just whispering...it is shouting please prepare. Also if you get spared..please do not get comfortable. Look for a new gig or at least have some emergency savings. You may need it.
@bh I still work at Opentext. Based on past trend, it usually happens at end of June but can carry over to July.
People posting here have no idea. Just hoping for the worst because they are bitter about being let go. People claim to have knowledge but “won’t get into here” other than to spread a genetic statement. Put up the details you know or shut up
Very likely both..as this is the YE Headcount plan they have used for years.
Re: June
Some people will be laid off in (late) June for 2 reasons.
1) OT Leadership can report smaller headcount number in the YE call to the Analysts, (and report the severence expenses as 'exceptional items')
2) They don't have to pay the annual bonus, however small it may be saving even more $.
That said the June action will likely be mid to late June to squeeze all the YE prep out of them.
Re: July
Some folks will be kept to support the business and close the year. Some of these people have already been notified, (and sworn to secrecy or be fired immediately). They are in the process of knowledge transfer to employees (likely in lower cost geo areas or Canada)
The July group will be eligible for their annual bonus.
OT Leadership (as we know) has very little expertise in running a company but are clearly experts in knowing how and when to fire people to exact their pound of flesh to benefit themselves and protect their bonuses.
Both
Why not both?