Thread regarding Open Text Corp. layoffs

@cq This Monday for individual contributors in sales coded roles.

@jx they will be WFRd on Monday this week, a week before SKOs start.

@jx 1) if they didn't do it, and make it flashy, it would be an immediate red flag decision. Easiest way to know something is up is if they aren't spending on sales. Yall are as close to the golden child as OT gets.

2) Some people do just like to talk

3) It probably will have a 'purpose' even if there are quiet cuts around it. Same thing for OKO and the rest of us. If they go deeper into the new model. They rented the space as a set cost, butts in seats for now makes it look better.

The rumor, as I heard it, is that Sales will be leaning FFA, with less product exclusivity and potentially region changes. That could reduce base pay obligations and lead to layoffs. I hate it - but they do have a cost cutting measure out of it.

Cut AEs however they want, other AEs cover gaps (or fumble and the other departments just watch the fireworks). Maybe force Consultants to be AEs or resign too. It is a gamble. A gamble that if even slightly accurate, I think is failing. Because to cover those gaps, some AEs will be selling products they don't know, and then ask the other teams to offload some of that we really shouldn't be. Besides demos, PLEASE utilize demos and work with the Product Managers to know your stuff. Helps the other teams, helps your wins, universally good. What's not good is doing layoffs without increasing resources to help Sales sell (instead of the other support teams), and then having a flashy show making everything look fine.

All you need is one salty person with an email backup and no amount of ESL/copypasta bots can fix the damage.

@es what is the logic behind sending people to SKO who will be WFRd after it? Why is the new GTM model so costly to warrant losing so many?

@e5 You should leave because you are not gaining marketable skills at OT. The longer you wait, the harder it will be if not impossible.

@es so no non sales layoffs until Oct ?

@cq Sales is over a two week period. Last week they rolled out the new GTM to only sales manages (those who have direct reports in FY27), and notified those managers who are not part of FY27. Since they had specialized calls and outreach to the sales managers middle of last week, they had to notify those managers who did not make the cut.

Sales- and this includes marketing, SCS, PS, enablement, etc, everyone who supports sales- have that same outreach that happened last week with mangers announced to the individual contributors this coming week, with WFR notifications for most who were cut on Monday. This will be a large number of WFRs.

Subsequently, there will be two more waves of WFRs starting after the kickoff including WFRs in countries where there are work rules legally in place in that country. Open Text has been working for a months in negotiating with the work councils and expect to be able to WFR that subset of employees in october- November.

All other non-sales coated employees will be managed out between October through november- December. There is a huge change in how go to market is being run going forward. That is very costly from a sales comp perspective and since leadership will not be taking any of that hit, it means the company had to significantly reduce head count across the company.

It also means very stringent and non-negotiable budgets for merit.

Expect invitations for meetings and leadership announcements, including from the new CEO to come out starting on Tuesday of next week through the end of the week.

@e5 if that's true then why are we the envy of all the worlds biggest software companies ? They are all mesmerized by our ability to retain talent, develop employees and move forward as a unit

@dq Confirmed 100% Everyone does as little as possible. We all stay because it's not convenient to leave or it's just a drag looking for another position. Why leave when you can coast in mediocracy and collect a pay check. Our poor customers get the worst support on the planet. The rest of the market is doing well, we s u c k bigtime.

@bg agreed and confirmed 100%. The company is full of energy, the markets love us and are rewarding us with a strong stock price

@da no need to worry. Layoffs are over

The markets love what we are doing, we have hundreds of open positions and all orgs are expanding and winning new business

Who does the layoffs? Your manager or his manager or HR alone?

@c8when is wave 2 happening

@c8 sales this Monday coming or last Monday ? Some people say sales were hit already

Major WFRs for sales coded employes this Monday. Need to get them off boarded before SKO the following week. After sales (sales = sellers , product, engineering, customer success, PS, etc), wave 2 is other backend orgs. Wave 3 is countries with councils. OT has been working with the councils for many months.

Expects big announcement Tuesday followed by change in ELT.
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@a1 agreed and confirmed 100%. We are the worst company on the planet. All the lies you spew are not going to change that fact. Employees are NOT loyal. We have Z e r o real open positions, we are NOT hiring , we need absolutely no people because all of our customers are fleeing.

The market hates our story and is hoping we file permanent bankruptcy.

@a1 all of my reqs were frozen - even after 2 interviews with several candidates. What the actual f-k?

@OP agreed and confirmed 100%. We have hundreds of open positions, all orgs are hiring , we need all the new people for the new customers

The market loves our story and is rewarding us