the stock price is going to the toilet after the earning call, will more layoffs be coming?

Their first miss in a while.

This was tucked away in a Perfomrance Management email: To optimize and reward employee performance, we are introducing a change in timing for our new, harmonized merit cycle. The new effective date for merit increases is January 1 and sets the new... — read more 

It's an eyewash with pre selected people being targeted while running a sham of a consultation process. There is a excel sheet that managers have been told what to fill with for performance evaluations. And there are unique roles they called out -... — read more 

I avoided being laid off this round, but this whole situation made my anxiety go through the roof. I lost some great colleagues, and I feel like sh-t for still being here, because some of them couldn’t afford to lose a job. I hate this place, I hate... — read more 

nobody is talking about layoff

of the 190 openings globally, only 17 are for Software+Engineering, all of them are in India https://careers.opentext.com/search/?q=&q2=&alertId=&locationsearch=&title=&location=&department=Software+Engineering

During a company meeting when MF deal closed someone asked Muhi if they can work at home he replied: I go to office everyday because I can’t afford Palo Alto so I have to live in Marin. Then worker asked “can I come to the Menlo Park office to which... — read more 

Like corporate leadership does. Tho, I somehow have a feeling they had none to begin with. I find their stage of greed, incompetence, and the lack of capacity to be in touch with other human beings astonishing. I guess normal, socialized and well... — read more 

The vast majority of folks affected were US while India and the Philippines weren't touched at all. The whole "re-hire 800 new folks" is bullsh-t because all of those jobs will go to India guaranteed. I know of teams that were decimated with... — read more 

Holiday here in the US today, final round of layoffs tomorrow?

We know OT damage control is reading all of this. Just remember, this is not ONLY about our fellow team members who just lost their jobs due to incompetant leadership. This is about past employees too, who gave their all and got the same... — read more 

Regardless of the circumstances, context, company, state of the job market, your financial situation or employability. It’s a personal hit. Guys, keep your heads up, allow yourself some personal care, give yourself time if you can afford it, then go... — read more 

I hope people that were laid off will find something better soon. Like others have said, this is not a software company, it is being run by like private equity with no organic growth. Debts are getting expensive to service so only way to keep it... — read more 

Also sorry for us staying for now. Consequences will fall on us. We will be expected to pick up after those who were laid off. There will be mess and chaos. And none of us will get anything for taking on more work. Best case scenario is to be lucky... — read more 

With new announcement of F25 do we expect more to leave?

They should have given some of us a chance to volunteer. I'd have happily accepted. As it is, I'm still here and miserable and somebody who wanted to stay is out of their job.

The only objective is to reduce the cost of salay. Replacing people with high skills with juniors. With the idea that selling software is like selling tomatoes.

https://www.stalbertgazette.com/national-business/waterloo-software-firm-opentext-cuts-1200-jobs-as-part-of-business-optimization-plan-9170559

What are they giving?

Everything went to mark. Every little decision. The people below him were just sycophants. The company buys and gets rid of the top talent and is left with cheap mediocre drones.

you can Google for press release. The official word is 1200 cuts but to re-hire 800. Just a signal to Wall Street they are replacing employees with cheaper ones if they follow through. Leave on your own terms if you can.

is it because of the layoff?

Just see a few OT Utah people updated their LinkedIn to opentowork, can anyone confirm this?

Just saw more people changed their LinkedIn profile status to opentowork, many have been with the company for over a decade, many appear in their 50s, 60s, that's disheartening

Buying MF at 6B, now the entire company is worth 8B, no wonder they want to layoff more MF folks

If they are really laying off 7-10k, then this would be a violation of the WARN act. They are required to give people notice of the layoff. Which I know most had no warning at all that this was coming.

People estimate some 7-10k are already gone, and there are rumors more layoffs are coming this week. I don’t know if any of that is true, I can just see it’s really bad this time. Pls post here if you have more info. Good luck to us all! — read more 

I heard from one employee that the managers are picking who to chop.More coming tomorrow this will be the biggest layoff in OT history

Bunch 'bad' ones from few days ago gone.

or those who go to office 3 days a week are also impacted? I saw posts saying virtual are decimated, probably it is easier to outsource them to India

40% of customer success org is gone. Some MF legacy in India. California virutal hit hard. Colorado Virtual decimated.

$otex is taking a deep dive, do you know why? is this the reason they are laying off people?

Hearing 7-10k people are or have been laid off from Opentext this week. Gutting legacy Micro Focus employees across all products and levels of employees as well.

Everyone here deserves better than this. As somebody who was laid off before from my previous company, let me tell you, there's life after layoff. It might seem scary now that it's just happened but it will get better. You will land on your feet and... — read more 

It's time we address the pressing issues that have created a hostile work environment and take decisive action to make our workplace safe, enjoyable, and productive again. Here are the necessary steps we must take: Leadership Change: We need a... — read more 

Who makes the decision on who to lay off? Can we fire that person/people? Why are we losing some of the highest performers and retaining some of the lowest? People with the most experience are gone. Why would any rational person get rid of somebody... — read more 

Or there is more coming?

We really are the extreme example of business being just the upper mgmt money extraction scheme.