- Part of messaging to analysts that OpenText is continuing on its promised transformation as announced when MB was fired. This says, we mean business, we are pulling out people in, we have control over their output. When business declines, pretending to change the dynamic of a component of that failure is part of telling analysts your recovery story.
- Attrition: Attrition is expected and welcome. There is a stat on this as part of the planing. Any employee contributing at high value or in a niche way is absolutely not on the handpicked RTO list.
- The list is VERY deliberate. You will note that today's employer communication underscored sales teams are exempt. Sure they gave reasons, but the reality is, OT is in the business of SELLING not INVENTING. OT can and will easily replace any employee who Isn't selling and that includes sellers.
- This is a preamble to the entrance of the new CEO. More control, more expectation, more oversight is the message.
- Stay tuned. Several more big announcements coming including restructuring and leadership exits through the fiscal year.
- Big carve out Q127
- Big change coming for one of the "core" business units.
- 1-6 are all part of the process of reducing headcount through voluntary exits (non executive) and golden parachutes for senior leaders.
- Followed by a HUGE WFR.
6 replies (most recent on top)
@bs its by country by workers council.
What is this handpicked RTO list ?
Are they trying to differentiate cloud from non cloud for a reason. a carve out reason?
We are currently in the "Squeeze" Phase:
- Squeeze the workforce (RTO) to reduce headcount without WARN notices or severance.
- Squeeze the assets (Carve-outs) to raise cash and lower debt ratios.
- Dress the bride: Make the balance sheet look as lean as possible for the permanent CEO entrant or a potential split/sale of the company.
Thanks for your analysis and sharing executive level information to the people on the ground. The silence the past several months is deafening.
This person knows the details and is right.