https://betakit.com/opentext-makes-ai-number-one-priority-as-company-slashes-1600-jobs/
“The work still needs to be done, it’s just going to be done with a machine via AI,” Barrenechea said. “AI is a step function to be able to reduce expenses in companies over time.”
Funny on this site there is no mention of AI at all
https://investors.opentext.com/corporate-profile/default.aspx
https://finance.yahoo.com/news/open-texts-nasdaq-otex-shareholders-105105702.html
No need for a new CEO, you were just told to leave the sinking ship.
AI could have been provided to employees so long ago, getting some mug that says aviator in July won't change anything now.
Visionary concept, use an implementation of AI that is equivalent to a “hello world” app. We need a new CEO, please!!!! Is anyone listening.
“strategically add back 1,000 employees in key locations and high-impact functions.”
By key locations, they mean India and Manila. It's all BS though. After the last big layoff in July 2024, I never saw one position back-filled.
Btw, nice job Mark dodging the question regarding the discrepancy between the 2,000 RIF number from the investor call and the 1,600 RIF-ed so far. I'm guessing the unlucky centers from India that will get "optimized" will bear the brunt of it.
Everyone will have a personal avaitor at Opentext by July… and according to the call 1 million customers will have one too…. If anyone can explain this word salad feel free !