I was let go today along with many others at the Waterloo office. Many good people. All very senior, so it is all about cutting cost as much as you can. Happy to leave. Dead products with no future growth.
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I could tell the end was near when I (individual contributor) was moved under a new manager in a new department and my new VP asked me what I did that let me be paid more than most of the directors in her department.,
@cy 100% correct. Everybody who was let go in this round from my team was at the lead or principal level. Very talented people with excellent skill set. Cuts were about cost reduction which will benefit the company in the short term but hurt it in the long term, but who cares? Executive will continue to get their very high salaries with big bonuses while they can.
@cm
This is not actually true. There have been many cuts this round and if you look at the actual people who were cut, you will notice a distinct pattern. They were mostly people of tenure, huge knowledge and very experienced. A lot of them were brought in through acquisitions and were culled because of their long tenure and higher salaries which were brought over from previous companies. This was purely about money and balancing the books by reducing overheads to bring salaries inline with individuals who were hired directly by OpenText on lower salaries. It had nothing to do with their ability whatsoever and to claim it was is a flat out lie.
@cm companies survive when they innovate and compete, not when they ki-l products due to poor decisions.
this was all about money. Great talent was sacraficed because this company's leadership is swirling the drain.
You are wrong. The entire development team was gone, as I came to know later — including the US. They ki-led the product and put it into maintenance mode. No more investment. Legacy products that are not attracting new customers and sadly, this a slow death of the company. When you don’t innovate as the rest of the industry, you die.
I hope you and others are in a position where you can take early retirement or find work relatively easily. The saddest thing is that cost cutting trumps experience.
Good luck. Anywhere is better than ground zero mega stress here.
@OP That's too bad, even being happy to leave, it's never really easy to go through this. I wish you well in the search for what's next.
I agree with your assessment of the co and the products.