OpenText Corp. plans to cut about 1,200 jobs as part of a broader effort to streamline operations and boost efficiency. CEO Mark Barrenechea said the move is intended to better align talent with key business areas, reduce costs, and fund future growth and innovation.

The Waterloo, Ontario-based firm has not disclosed which roles or regions will be affected, but the cuts represent roughly five per cent of its workforce, which stood at about 24,100 employees last year. Despite the layoffs, OpenText recently reported strong financial performance, with quarterly profits rising to US$98.3 million and revenue increasing 16 per cent year-over-year to US$1.4 billion. The company also sold part of its business to Rocket Software for US$2.3 billion.

In the context of Canada’s job market, these layoffs reflect an ongoing trend in the tech sector, where companies are tightening costs after a period of rapid expansion. While Canada’s overall employment remains relatively stable, tech workers may face increased competition as firms prioritize efficiency and profitability over headcount growth.

Have you been laid off at OpenText in Canada? Contact our employment lawyers today. Our legal team may offer a feree case assessment and works on a contingency basis —there are no fees unless you win your case.

Alex Riehl’s original article, “OpenText lays off four percent of its global workforce” was published in Betakit News on March 24, 2026. Read the Full Betakit News story.

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