Somebody told me we should be good on layoffs for a while, but it sounds a bit too good to be true. Is there any truth to it?
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If history holds true, OpenText usually undergoes a significant workforce reduction once a year. Therefore, we shouldn’t anticipate any further reductions until 2026.
Management reorganization coming on July 1st.
Can’t spell OpenText without WFR
Based on the current state of the company and its management and global economy, there may not be major layoff soon but there will be layoffs and most likely another major layoff next year as things deteriorate.
Start investing and not rely on one source of income.
As discussed in previous threads, layoffs in early July will target Managers with a low number of reports to consolidate teams. AI will be trained by individuals contributors and steered by executives. Thus, removing the need for middle management. Personally, I don’t think this is a good idea, but this is the current thinking. Remember Mark was an executive at CA where they constantly merged teams, but they also created a 35 day month which resulted in jail time for their CEO. Not sure how much of a visionary Mark is….but he does know how to squeeze money out of dying companies without spending on R&D… And wonder if Mark will try to extend fiscal year end to July 4th to inflate the results. I’m kidding, but wonder if there are some legal but unethical things up his sleeve to keep the stock from diving.
I would say, if history is any indication, more layoffs are coming, especially in the US.
Only time will tell, but history might have a thing or two to say about it...