Thread regarding Open Text Corp. layoffs

we are even further down. Looks like AI does not how to bump up stocks and replace ELTs. Photoshoot at Ireland, Ottawa does not got much takers.

@a5 OT should have never acquired MF in the first place! Mark wanted IDOL since it would have enhanced the search capabilities of the Core OT products. Story is that MF said they wouldn't sell just IDOL, that OT had to buy the whole company, with several products that didn't align with OT's core business if they wanted IDOL. Mark B., the arrogant a$$ that he is, bought it anyways, despite objections from some board members and investors about how bad the deal was for OT. (Remember, OT stock tanked on that announcement, while MF stock saw a pretty decent bump.)

Fast forward almost 5 years, the millions of $ of debt that OT took on as part of the deal and the total lack of strategy when it came to integrating the two companies, have put us in this position of trying to dig out of an enormous hole of mismanagement. Meanwhile the architect of all of this mess gets to walk away with his golden parachute, brag about touring with the San Francisco opera, and gives absolutely ZERO f$#@s about the mess he caused.

Honestly, if it were even possible, it'd be justice to sue to claw back Mark's severance and redistribute it to everyone he sc--wed over by his horrific lack of business acumen.

@af MF probably looked cheap on paper, was (relatively) well run, a solid customer base and had a quick sell off win in AMC.

MB also needed something to keep his Ponzi scheme alive.

We are doing good. Stock Market, really do not define us. Its mainly for dividend seekers.

We have been hiring in large numbers Ireland, Canada, US, India, after get rid of the old sc-ms from same locations.

We have been jumping around and having photo shoots with new Canadian PM, Ireland politicians. Took over microphone from IBM and many legacy companies to talk about AI in industry forums, leaving that frontier only for trillion dollar companies.

We squeezed out skilled and competent people from corporate with unjusted policies, and watchdogs. Our ELTs had mastered this smart art since decade or more. We are hiring novice and head nodders to do all over loaded works without a baseline and formal training, and forcing them to be creative.

Our Canadian influencers like Tom J, Shannon B, are doing well in AI forums, Technical Meetings, and making people believe that we breath AI.

We implemented all acquired software inhouse for free and run our internal ecosystem on it. The newly hired people will learn it, and spread it on their next job, when they will let go in a year, or burned to ashes.

@a5 why did we buy

@a6 It is actually quite shocking how little knowledge now resides in the business.

OpenText is in hospice just awaiting the end.

@a5 OTEX management was too arrogantly stupid to not ki-l the products that they could have sold.

Who knew that replacing decades of product/industry knowledge with cheap COE labour harmed products?

OTX should have sold off most of the MF acquisition a couple of years ago while they were viable concerns.

They are now liabilities.