News Summary

Kitchener-Waterloo-based OpenText, a leading enterprise software company, has announced a significant shift towards prioritizing artificial intelligence (AI) across its operations. The company plans to cut an additional 1,600 jobs as part of its global ‘business optimization plan,’ which aims to integrate AI as a ‘number one priority and baseline expectation.’ Despite these reductions, OpenText intends to add back 1,000 roles in strategic locations and high-impact functions. This strategic move is expected to generate annual savings between $490 million to $550 million USD. CEO Mark Barrenechea emphasized that the company’s AI-first approach is a step towards reducing expenses and optimizing operations. OpenText has mandated that new talent must possess AI skills, and existing employees are encouraged to integrate AI into their workflow. This initiative mirrors similar strategies by other Canadian tech giants like Shopify, highlighting a growing trend of AI integration in the tech industry.