OpenText plans net workforce reduction of 400 jobs targeting $150M annual savings

OPEN TEXT CORP

Reduction of ~1,200 positions offset by ~800 new roles in Sales, Services and Engineering; net ~400 reduction (1.7% of workforce).
Annualized cost savings of ~$200M; reinvestment of ~$50M yields net ~$150M savings in Fiscal 2025.
Restructuring charges of ~$60M, substantially in Q1 Fiscal 2025 and mostly cash-paid.
Business optimization to be substantially completed by end of Q1 Fiscal 2025.

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