OpenText

Kitchener-Waterloo’s OpenText is eliminating 1,600 more jobs as part of its expanded global “business optimization plan,” citing a shift to AI-first operations. CEO Mark Barrenechea described AI adoption as a “baseline expectation,” stating that the company conducted a “deep analysis” of roles that could be replaced by machines.

The total net reduction now stands at 2,000 jobs. OpenText, which employs over 23,000 globally, plans to rehire 1,000 people into high-impact roles with AI capabilities. Executives claim the move will generate up to $550 million USD in annual savings. AI will now influence hiring, performance, and resource allocation decisions.

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Serica Energy, a key player in the UK’s oil and gas sector, has partnered with Canadian tech firm OpenText to enhance its operational efficiency. By implementing OpenText Content Cloud and Extended ECM for Engineering, Serica aims to streamline its engineering information management, reduce risk, and accelerate project completion times, according to a statement from the firms.

“Energy companies are under intense pressure to deliver more reliable and sustainable energy without compromising the health of their employees, the safety of the communities they serve, or the environment in which they operate,” observes Muhi Majzoub, Chief Product Officer at the publicly traded OpenText.

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OpenText, headquartered in Waterloo, Ontario, announced plans to cut 1,200 jobs while creating 800 new ones in a strategic shift towards AI, cloud, and security technologies. CEO Mark Barrenechea outlined this transition to “OpenText 3.0 – Information Reimagined” in an open letter, emphasizing a focus on cutting-edge tech to serve business customers and reducing annual expenses by $150 million.

Despite job cuts, new positions will open in sales, professional services, and engineering. The company, which had 24,100 employees as of last June, reported US$1.4 billion in revenue last quarter, up from US$1.2 billion year-over-year.

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