DataCA

OpenText Layoffs

January 2023

OpenText announced a layoff affecting 0 employees (8% of its workforce) in January 2023. The company operates in the Data sector.

People Affected

Percentage

Announced Date

Jan 31, 2023

About

OpenText, a Canadian information management software company, announced workforce reductions following its $5.8 billion acquisition of Micro Focus, completed in late January 2023. The combined company, now with approximately 25,000 employees, expects to cut about 8 percent of its workforce, equating to roughly 2,000 layoffs. These cuts are part of a plan to achieve $400 million in cost synergies and streamline operations after the merger, which aims to create a global leader in software and cybersecurity. The layoffs reflect typical consolidation efforts in the tech industry post-acquisition, as OpenText integrates Micro Focus's products and talent to accelerate digital transformation for its clients.