06:28:59 EDT Sat 12 Jul 2025
Enter Symbol
or Name
USA
CA



Open Text Corp
Symbol OTEX
Shares Issued 256,496,404
Close 2025-06-17 C$ 38.62
Market Cap C$ 9,905,891,122
Recent Sedar Documents

Globe says AI push at Open Text means less opportunity

2025-06-18 07:43 ET - In the News

Also In the News (C-SHOP) Shopify Inc

The Globe and Mail reports in its Wednesday edition that in a call last month, Open Text chief executive officer Mark Barrenechea outlined a sweeping corporate realignment that will eliminate hundreds of jobs and redefine the roles the Canadian tech company is willing to fill. The Globe's Chris Wilson-Smith writes that the software company is fully committed to an "AI-first strategy" that will change staffing, spending and product development. Roles that can be handled by artificial intelligence will no longer be backfilled, and future hires will be required to bring AI fluency to the table. The move follows a similar announcement in April from Shopify. The shift is adding pressure to one of the most challenging youth labour markets in decades. Statistics Canada reports that 14.6 per cent of people in their late 20s were not in employment, education or training in the 2023-24 academic year; this may signal "higher risks of social disconnection and exclusion among youth." For recent graduates and early-career professionals, the spread of AI could mean fewer stepping-stone jobs -- and higher expectations for those who remain, as roles increasingly demand fluency with the technology and more advanced responsibilities.

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