So people can be ready for it.
11 replies (most recent on top)
@OP If the plan is followed, we can expect further cuts this quarter and again next quarter. More than 400 people were let go in July, which I assume was linked to the divestiture announced in Q4.
If the trend continues, we may see another round by the end of September, depending on local labour laws.
But don’t worry—OpenText is hiring, and the share price is going up. Everything must be fine.
Send an email to askmark to see if he has some info he can share.
november
@ek the slow bleed is the plan.
@e9 Exactly, they are using the layoffs to appease shareholders and that's not even working.
@OP Why do people keep asking the same question over and over?
The answer is always the same:
Layoffs, firings, and drive-offs are a continuous process at OTEX. It's the only way they can temporarily improve financial metrics because the products are in hospice, and sales are not increasing.
If Sales was the answer, Opentext would have been growing by now. Get rid of the hopeless Board. You will see positive change.
tomorrow
October.
But the new sales org will turn this all around right?That is the big bet, driven and led by Sr. Pastor Todd Cione. Look how well Terradatas stock is doing. It’s only down -42% in 5 years v OTEX at -56%.
The good news is Sales finally has no excuses and nobody standing in their way, not even superceded revenue. After all that was the problem all along.
Good luck!
Given stock is still swirling the drain, expect people to constantly be fired.