Wall Street was thrilled over reported Q1 profit by OpenText, largely via layoff in May/June, now Banks are pressuring Mark to do RIF in the US, have the Indian teams replace the more expensive workforce. One firm reportedly talking to OpenText is Atos, likely there are other firms such as InfoSys, HCL, but so far only Atos is confirmed. Don't believe sweet talk from CEO, he works for himself and Wall Street.
If your team has significant workload from India, expect your job will be cut in the next 3 months. The Cloud Service division and also Corporate IT will be largely transferred to India in early 2021.
3 replies (most recent on top)
I wonder when investors will start caring that their profits come from employees getting 0% increase in pay. There is no cost of living increase EVER and most years MOST employees see 0% increase in their pay. It means you are losing money every year you work for this company.
They don't care about employees at all. Just lip service.
I honestly wonder how long OpenText can keep this up under Mark. It's such a sh-t show. They have products with no support staff from which they still collect support fees. To call this company unscrupulous would be an understatement.
They're really good at driving away large, well-funded customers to the competition, too. Mark is still the smartest guy around. Just ask him.
OpenText acquire and fire...most companies they purcghase for the software NOT the staff. BIG MIKE is only interested in one thing...his huge profits for himself. So if you get bought by these cowboys start looking for another job. One recent purchase saw staff of 80% entire company go. You are warned.