Thread regarding Open Text Corp. layoffs

@e0, they are not stupid in regard to self-preservation. However, they are stupid when it comes to running a successful business.

People at the level of Jenkins and his CEO puppets, are blinded by arrogance and selfishness. And that is why they fail. (How in the world is Jenkins still running Board?)

I was let go after a strong review and a healthy pay raise. That part stung, but I am so happy to be out of that soul-su-king organization.

I did interact with some good people and made friendships. But the BoD, ELT and some of their synchophant puppets can be best described as wretched hive of vipers.

@dx They're not stupid. Anyone who makes it to the exec level is a shrewd operator. Many of them have already seen through everything. Rather than fighting a stupid board of directors, they might as well humor them and line their own pockets.

The exec team is astonishing stupid. They are just reshuffling the deck and don't know how to really move the org forward. They are just protecting their own salaries while the rest of us hope for a few crumbs on our plate.

whatever happened to the dat bricks partnership

Word games, stupid, old-fashioned, short-sighted board of directors, a company about to go bankrupt.

@OP, hence it's known as OpenJoke.

@OP This is probably the best they can. They have starved the products that companies used to buy, to the point they are not salvagable. So, if they want a return they have to go outside the company. The true OpenText way.

Real AI guy's salary is US $250k and up... Do you think OT would pay such a high salary range to a person?

They hire those Indians, so-called AI engineers... I can guarantee they are not familiar with AI at all.... They are just good at making pretty resumes.

Isn't this simply a new OpenText Enterprise Applications Fund (OTEAF)? They've done something similar before. My understanding is that OTEAF largely concluded its active investment lifecycle around the Dell EMC acquisition, as OpenText shifted its primary growth strategy away from early-stage minority venture investments and toward larger-scale acquisitions. This may simply be a follow-on "Ventures II" fund now that the acquisition strategy has slowed. Just a thought.

The whole OTV part of that announcement is a grand play on words. More spinning by the struggling open text. Open text isn't going to be writing checks from its own bank accounts. This is a pretty standard model where outside investors put up money and open text contributes its name, its customer base, and then access to OpenText technology. And it only has value if any AI startups want any of that. What OT gets out of the deal is they get a view into what these startups are building and have a funnel for a potential partnership or even an acquisition way down the road. CEO not inventing the wheel here. Intel Capital, Google ventures, Delta Capital, workday ventures etc are the same thing.

The main benefit for Ayman is when he goes to the board of directors in November, he has an AI plan to share with the board. That's all. OT is extensively leveraged. The real number one goal is to pay down debt.

what was reorged this time? how many more reorgs can the company take??