CEO increased pay 20% while losses exceeded 20% it's for Mark, not the company

We're being laid off. It appears to be OT is shedding most of its U.S. employees and eliminating remote work after bragging about how great it was for the company. Bulk of layoffs are to Core and replacements are in India and Canada.

If any of you have ever watched the Biz Doc on YouTube, you know this is not sustainable. Management focus on stock price while ignoring product quality, sales, and renewals is not growth. OT cannot continue to purchase and abandon products and keep going. It will fall into itself. You'd think a guy making nearly $10 million a year would know that, but he keeps bouncing from one idea to another and acquiring companies and then laying the people off with the product-specific knowledge and experience.

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It's the lazy CEO way. If you can't grow your company, buy other companies to boost your financials. Eventually, the debts and lack of growth will catch up to you but you have already earned tons of money from "growing" the revenue and exceeding targets based on original slowing company and leave as the "hero" with big paycheck. Ignoring all the carnage happening to the employees and shareholders.

I know, when is the news that they don't even keep up with cost of living increases, while giving the exec team big money. Basically all employees take a pay cut every year they work there because it's rare they give raises to anyone and when they do they average less than 1%.

Surprised you made it this far in the year. I was laid off in May and still cannot find work in Georgia.

Thread regarding Open Text Corp. layoffs

CEO increased pay 20% while losses exceeded 20% it's for Mark, not the company

3 replies (most recent on top)

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