Layoffs were announced last week. WFH is being monitored by the company for utilization. If you’re not working, you’ll get laid off! If you’re not working because of declining bookings, you’ll still get laid off!! Be careful, big Canadian brother is watching!
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Here's a new twist to forced layoffs. The woke CEO is forcing mangers to list most of there employees in non-satisfactory categories, thus hoping people get fed up and leave.
If enough people don't quit, there will be layoffs.
I was laid off and I've found much better work for much, MUCH more money. OT is a garbage borg-like monstrosity of a company. No real innovation, just acquisition. It's absurd.
They even have product under support contracts with only one or two customers and no support staff knowledgeable about the product!
Typical nonsense. Disingenuous garbage from Mark. He purports to take a 60%+ cut. In actuality, he’ll take less of a percent cut than rank and file as his compensation is virtually all stock. Guy is pathetic.
Any insights into what kind of packages are being given to Ontario/Canada employees? I assume it's the absolute bare legal minimum.
Most stupid and dishonest company i have worked for. There is no HR policy . You are a slave to your reporting manager. Work ethics, knowledge doesn’t matter. Racial profiling and gender favourism . CEO is an ah
Most stupid and dishonest company i have worked for. There is no HR policy . You are a slave to your reporting manager. Work ethics, knowledge doesn’t matter. Racial profiling and gender favourism . CEO is an ah
So did they do this yet, or not? Haven’t heard anything. No one has been affected in my region yet.
Has anyone looked into the legality of the arbitrary pay cut? Given that the company is still profitable, isn't the cut in salary constructive dismissal?
I’ve enjoyed working for GXS and Open Text. I’ve been wfh the whole time now 14 years. Good teams. Raises weren’t great but stable work. Always rumors of layoffs and who knows. I maybe next. 🤷🏼♂️ Hope not but won’t bash company. Two more days till this last round is done. 🤞
From my experience, anything they take away now, will never come back ! My advice, leave this useless company as soon as you are able to ! Good Luck!!
I must say the most useless company I have ever worked for and the most useless executive I have ever seen, none would be able to work outside OpenText, hope people who are in the layoffs find work soon, but why OpenText couldn’t wait a little longer...of course not they don’t give a c-ap for any of their employees!
Temporary Compensation Reduction
We are implementing a temporary compensation reduction through the end of FY21. Executives and more senior employees will be asked to take on a greater reduction.
I will be taking a 63% percent reduction in overall cash compensation, including foregoing my Fiscal 2021 bonus. The Executive Leadership Team will receive a 15% reduction in compensation, while managers will receive a 10% reduction and all other employees a 5% reduction, except for those who make less than $20,000 USD per year, who will be exempt.
We will also be temporarily suspending the OpenText match to retirement plans for North American employees starting in June.
These compensation reductions are temporary, and we plan to keep them in place until June 30, 2021. They will be implemented following local processes in various countries, and more detail will follow with specific details relevant to your country and position.
If the COVID-19 crisis ends sooner, we will act sooner to return to normal.
Pathetic. 2021 SMFH
The employees dont trust the company, its sad. Everyone is panicking, no one knows what to expect, who is staying or going. All bets are the acquisition guys are going, maybe customer facing roles. If the WL HQ gets hit then that is sad. I think they deserve to lose talents after COVID is over, because they dont deserve the employees they do not put first.
All this while continuing to be profitable and paying out dividends to shareholders. Goes to show who really matters.
The Waterloo HQ will also be hit hard, especially H&R as some functions go to India, ditto large cuts at TF, Alpharetta, Austin, Pleasanton, and Dallas. Netherlands and especially UK will be hit hard.
The layoff starts on Friday first in UK/Netherlands, then spread to US
CEO makes over $8M/yr, but cuts employee salary 5, 10, or 15% depending on position for next 14 months to protect company from ‘coming recession’. Others will be laid off. CEO claims he is cutting his cash compensation by 63%, which is actually only about 5% of his total compensation. More work, less pay, no security.
I believe software division will be hit really hard, I belong to the Cloud division and believe we will have cut as well.