The Street cares about future guidance. They’ll need to have a great story on the morning of May 1st to explain where OT is going. Not sure the future is AI for OT…. Lots of talk starting with “Watson is Junk” https://financialpost.com/technology/cio/watson-is-junk-waterloos-opentext-hops-on-the-ai-bandwagon-with-magellan but they may need to find a new path unless they show “organic growth” with AI.
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If I’m an OT customer, I’m getting on the phone immediately to find competitors to rip and replace my OT products. OT is firing people who updated and supported these products. Service and quality will get worse and worse. There’s no going back and no pretend efficiencies. OT does not deserve the renewal - with a 5%y/y price increase due to “increased costs”. Well, today they decreased costs.
The Street should not reward this. It’s a de—th spiral.
Meeting with HRBP
The previous post does have an (unintentional?) point. There has been zero official communication regarding anything today. All information has simply been word of mouth or status via LinkedIn updates.
Been through multiple rounds of layoffs at multiple organizations. OT does this really odd silent layoff thing, and just kind of pretends they never happened. Sometimes you only learn about it when attempting to contact someone who used to help you out.
Fear and lies is a strange way to run a business, but what do I know?
Are you guys the ones spreading rumors about layoffs? I haven’t heard anything myself.
How did you find out about the layoff? Were you locked out of your computer or did your badge stop working?
The only center of excellence in Mark B's view is an all you can eat buffet.
There were a lot, I was one of them. :(
Any other layoffs today?
I work at Open Text and have a meeting coming up with a director that I've never spoken to before, so I'm pretty sure I'm up next.
Lot of excellent employees in Utah, it should have been a Center of Excellence.
gg