Brief: Open Text Says Business Optimization Plan To Result In 1.7% Job Cuts

Open Text

03/07/2024 14:09

July 3 (Reuters) - Open Text Corp  OTEX.TO :
    * OPEN TEXT CORP -ANNOUNCED A BUSINESS OPTIMIZATION PLAN
    * OPEN TEXT CORP - PLAN IS EXPECTED TO RESULT IN THE
REDUCTION OF
APPROXIMATELY 1,200 POSITIONS ACROSS THE COMPANY
    * OPEN TEXT CORP -BUSINESS OPTIMIZATION PLAN IS EXPECTED TO
RESULT
IN A 1.7% REDUCTION OF THE COMPANY’S WORKFORCE, TO APPROXIMATELY
23,000 EMPLOYEES
    * OPEN TEXT CORP -COMPANY EXPECTS TO COMPLETE THE BUSINESS
OPTIMIZATION PLAN SUBSTANTIALLY DURING THE FIRST QUARTER OF ITS
FISCAL YEAR 2025
    * OPEN TEXT CORP - EXPECTS TO INCUR ABOUT $60 MILLION IN
RESTRUCTURING CHARGES THAT WILL BE SUBSTANTIALLY RECOGNIZED IN
THE FIRST QUARTER OF FISCAL 2025

Source text for Eikon:  ID:n0001002638-24-000034 
Further company coverage:  OTEX.TO 

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