We keep hearing about upcoming layoffs and the push to cut salary expenses by moving more jobs to India. But while regular employees are being squeezed, the executives at OpenText continue to live like royalty.
If you're making $150K to $200K, working 70 to 80 hours a week on a barebones team, your pay is suddenly considered "too high." Meanwhile, the execs at the top are cashing in big.
Here's what some of them are taking home (USD):
Mark J. Barrenechea, Vice Chair, CEO, and CTO
$14.74 million total compensation
$950K base salary, $1.69M annual incentive, $12.07M in stock and options
Madhu Ranganathan, EVP and CFO
$5.3 million total
$775K salary, $850K performance bonus, $3.67M in equity
Muhi Majzoub, EVP Security Products
$3.93 million total
$600K salary, $715K in incentives, $2.6M in stock and options
Todd Cione, President of Worldwide Sales
$6.34 million total
$323K base salary, $6.02M equity-heavy package
Paul Duggan, EVP International Sales
$575K base salary, $1.1M in commissions, $2.4M in retention equity
And that's just what's public. Some of the newer leaders haven't even shown up in the filings yet—but you can be sure the numbers won't be smaller.
While they ask you to survive on less, they're stacking millions. While you're told to work harder with fewer resources, they're enjoying stock windfalls. And while they hand you a 2% raise and tell you to be thankful, they're quietly cashing out.
None of them are worth what they're being paid. The stock price says it all.
So the next time someone tells you "it's just business," remember—you're getting laid off so they can keep getting paid.