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Job cuts ahead as OpenText seals Micro Focus deal

OpenText says it is making approximately 8% of its employees redundant following its $5.8bn acquisition of cybersecurity specialist Micro Focus. 

These planned lay-offs will amount to cost synergies of $400m, the information management company said. 

OpenText CEO & CTO Mark J. Barrenechea said: "Digital life is life, and with Micro Focus' products and talent, we will help organisations of all sizes accelerate their digital transformation.

“This new generation of Information Management software will help organisations accelerate their digital transformation and drive growth while reducing costs."