OpenText to cut 1,200 jobs as part of Waterloo software business’ optimization plan
![OpenText to cut 1,200 jobs as part of Waterloo software business’ optimization plan](https://globalnews.ca/wp-content/uploads/2024/07/20240703110748-eb84382b28f0885be0e0e60242aeb1019fb2e03f0f6b0bcb1fae64aedafa7d44_966fd0.jpg?quality=85&strip=all&w=720&h=480&crop=1)
A note from Open Text's chief executive said the job reduction will come with one-time costs of about $60 million but will generate about $150 million in savings per year.