OpenText completes Micro Focus buy, CEO says bye to 8% of workforce
OpenText marked the completion of its $6bn purchase of Micro Focus by setting out plans to shed 8 percent of the combined workforce, equating to circa 2,000 people joining the dole queue.was tabled in August and after passing the shareholder sniff test, the sale was finalized yesterday.
“I would like to welcome Micro Focus customers, partners and employees to OpenText,” said CEO and CTO Mark Marrenechea in a. “Digital life is life, and with Micro Focus’ great products and talent, we will help organizations of all sizes accelerate their digital transformation.” Another sort of transformation awaits thousands of staff at the business, with a spokesperson for OpenText saying that it making some $400 million in “cost synergies”. Presumably there’ll be some role duplication in back office and other areas, but it's not clear how deep the cuts will go.
“The combined company will balance and reduce the workforce by approximately 8 percent due to the acquisition of Micro Focus which officially closed yesterday,” the OpenText rep told us. As of August, OpenText employed around 14,800 staff, around half in the Americas, 18 percent in EMEA and the remainder in Asia Pacific, according to the
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