I would expect major layoffs before the new dude starts in April
He won't want to be the bad cop straight away so it will be done before then
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@fq The only safety lies in moving to roles that involve complex decision-making, relationship management, or building the AI itself. This is not just OpenText, it’s the entire industry. If you are not doing that, you will be obsolete. Structural Unemployment.
There is 100% layoffs coming
@cm The "Carly Era" comparison is spot on. It is ironic that OpenText acquired the software assets of HP (Micro Focus), only to seemingly adopt the exact management style that caused HP's software division to struggle in the first place. History, it seems, is repeating itself.
OT has a very strong layoff game. Probably the only consistent 'skill' the Leadership has.
Just as in the Carly era (iykyk) they are one trick ponies..They have one lever when things are going south and pull it several times every year. Usually one major layoff (requiring WARN Act notice) and several other layoffs 'under the radar'.
Honestly IMHO everyone working at OT is already on the layoff list..there just isn't a date next to your name...yet.
I hope all current employees have been saving every penny because OT has already telegraphed they don't want to pay severance if they can avoid it (new PIP and RTO policies are evidence of that strategy).
They will not accelerate vesting for RSU'S ..and will do everything not to pay those out fully, unless you are under an Executive Employment Contract.
You all deserve so much better than this..Put a plan together and start looking..(Also helps you brush up on interviewing skills) Can't hurt🥹
100%
They have an investor call, first week of May as usual.
For the past few years, April have seen layoffs.
So those savings can be shown in reports to investors in May.
May 2025 (Fiscal Q3 2025 Call): OpenText announced a reduction of approximately 1,600 roles.
July 2024 (Fiscal 2024 Year-End/Fiscal 2025 Kick-off): OpenText announced a reduction of 1,200 roles.
February 1, 2023.
Approximately 8% of the workforce, which amounted to ~2,000 employees.
These are only large ones they announce, we've all seen the odd team removed from teams or heard whispers of someone let go.
@b9 surely he is less creepy
word from the IBM threads is he's the bad cop, very similar skill set and style to mark++.