Seriously, if the comp. is going down then why are they hiring?
OK, they remove the employees with high salaries, give more work to those who are still there, but then still hire new ones (obviously less pay) does that mean the teams that are hiring are not being affected by layoffs?
Or are the employees that are being given more work complaining so much they actually decide to hire to help them?
Maybe I will be answering my own question now, maybe they are hiring to laying off regardless what happens... Meanwhile the newly hired employee has no clue he'll be let go soon.
Anyone know if this is the strategy they are doing?
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@a6 This, it's APAC or what I've been seeing more of 'contingency workers'
Now I'm seeing them in Sales, originally it was other depts.
Here's my understanding but it might be flawed so if anyone else has a different idea..
- A lot of jobs being offshored, so essentially lets say 5 people get cut in US/ Canada and they hire 3 or 4 people in they place offshore, that take a much smaller salary.
- Sales has a larger churn due to things like bonuses, targets etc. you both have more people moving away or being let go in order to not get paid a bonus and then the next guy gets hired for the next year
- Fake job advertisements to farm metrics/ CVs/ look like a growing company
- Things like the new deal in Cork where they'll either land or they are trying to land AI deals in government so they are investing in hiring in AI...stuff there with a clear goal of locking down somebody for a lifetime with predatory contracts and making their money back a thousand fold.
- Along the lines of 4, there are products in opentext that are genuinely making money and selling more and more. Those products then need further support, development, marketing and sales and they get allocated part of their earnings back for that. The problem with OpenText is those products being few and far in-between carry another larger margin of products that are at best doing the same financially as last year and at worst doing worse. So those products are getting people cut left and right, people unsure about their job, people having to do more work for the same pay when their colleagues are laid off. So we're in a situation where the so called core products are spending their earnings keeping non-core afloat and non-core is getting death by a hundred cuts to survive, but on paper you see hiring in core products, you just dont see everything else from the process.
So why are people saying the company is dying? Because they have to/ plan to sell the non-core businesses yet we dont see deals happening which means maybe nobody wants them, those products both from core and non-core that are not performing well financially are dragging the rest of the products down and a management thats largely incompetent is spreading faulty processes across all products and just making things worse, all while deliberately treating people in a way to try to get them to leave on their own volition so they dont need to be paid a severance package. So many people have also thought that OpenText might have realised they can't sell businesses by the piece and might try to slim down the company as much as possible before selling all of it at once so the shareholders dont end up holding the bag of an underperforming stock price holding their investment money hostage.
This is all my conspiracy of course. It might be completely false. For legal reasons, it probably is. None of what I said makes sense or is logical.