Does anyone have any idea when the next round will be, June or July 2026?
Please don't assume we're back just because we're hiring. If you've followed the trend over the last few years, OpenText has often hired and then later laid off employees to backfill positions. The current hiring activity alone doesn't necessarily indicate sustained growth.
@b8 not true. In some of the VC plans they have to pay it out at 100%
@cv It isn't uncommon for a company to do a layoff in the last quarter of a fiscal year. I'm an accountant and have seen it many times in prior companies. From an accounting standpoint, they have to record the full hit of the layoff including future payments at the time. So, they can take the full hit of a layoff in June, which will be a liability on their books, and start their new year fresh with no expense related to the layoff.
@cv You do realize they cut more than 1,500 positions in the last week of March ( the final week of their third quarter ). We’re talking about Open Text here. Expecting executive decisions to make sense may be setting the bar a little too high!
@b8 they are going to do layoffs before the end of quarter ? That makes no sense. They will wait for the first week of July
@bs Hope is not a plan.
Misinformation is not a plan.
Mindlessly repeating platitudes is not a plan.
GFY
@ac Sure thing, Baghdad Bob
June... Lists are already compiled, managers not included in the decision-making process. Employees just reduced to costs on a balance sheet with no real thought into how it might impact the functions of the teams they were on.
Will happen before the end of the quarter since any employees on a VC plan who are not with the company before the end of the quarter are not eligible for VC comp.
Yet another shady way the company squeezes a couple more pennies into the cost savings they can report to the investors.
What we do know for certain is that we are hiring and have returned to growth for both June and July