Type
Merger/Acquisition
Country
World
Region
Location of affected unit(s)
Canada, France, Germany, Sweden, Georgia
Sector
Information / Communication
Computer Programming, Consultancy And Related Activities
Computer Programming, Consultancy And Related Activities
62 - Computer programming, consultancy and related activities

525 jobs
Number of planned job losses
Job loss
Announcement Date
17 October 2006
Employment effect (start)
1 July 2007
Foreseen end date
31 December 2007

Description

Software maker Open Text Corp. announced on 17 October 2006 its plans to cut 15% of its worldwide workforce of 3,500. The company announced that it has yet to determine where and when (between July and December 2007) the job cuts will take place. The company, with sites in Canada, France, Germany, Sweden and Georgia, informed that more details on the cutbacks should come by the end of the year.

Open Text's chief executive officer stated in a press release that the workforce reduction is the result of Open Text's purchase of rival Hummingbird Ltd., which closed on 2 October 2006 for the ammount of 489 million USD. Employees from both Open Text and Hummingbird may lose their jobs.


Sources

  • 18 October 2006: Les Actualit├ęs de 01Net

Citation

Eurofound (2006), Open Text Corp., Merger/Acquisition in World, factsheet number 64272, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64272.