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OpenText, a Waterloo-based software firm, has announced plans to cut 1,200 jobs, representing approximately 1.7% of its workforce, as part of a business optimization plan. The company cites ongoing challenges and economic pressures as reasons for the layoffs. The initiative, which includes adding 800 new positions, aims to support growth and innovation plans, particularly in cloud, security, and AI innovations. OpenText expects to reduce its annual expenses by CA$150 million in 2025 through these measures. The announcement was detailed in a July 3 filing with the U.S. Securities and Exchange Commission.
Information management company OpenText plans to cut about 1,200 jobs, or ~1.7% of its workforce, and expects to reduce its annual expenses by CA$150M in 2025 (Juby Babu / Reuters) https://t.co/2DHbREFHhm 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/EnU01YNBMO
OpenText plans to lay off 1,200 employees and add 800 positions as part of a “business optimization plan” to support its “growth and innovation plans,” according to a July 3 filing with the U.S. Securities and Exchange Commission. https://t.co/C4ZVzmTIPC
Waterloo software firm OpenText cuts 1,200 jobs as part of business optimization plan https://t.co/o4vQkcfPI2 https://t.co/Kaz3My8Uln
