Thread regarding DXC Technology layoffs

I think the DXC CFO will be axed

Now that Lawrie is officially out of the picture, I think Salvino will announce Paul is out within the next 30 days. Remember when Meg Whitman retired from being the Chair for the DXC Board?? Once Meg left, Lawrie was free to take out his knife and cut most of the former HP management ( Meg hired them) . CEO/Board politics will always be in play; now that Lawrie is out; I expect Salvino to act quickly. Getting rid of Mason was easy; no investor impact. If the Q3 revenue dips, I expect Salvino to make major changes to show the street he is charge and buy some more time.
Thoughts??

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Post ID: @OP+12OUOfmF

9 replies (most recent on top)

LTIP = more pay freezes, travel restrictions and even more WFRs.

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Post ID: @3tlj+12OUOfmF

DXC Technology Company announced the transition of J. Michael Lawrie, Chairman, President and CEO, effective September 12, 2019. Mr. Lawrie had been CEO of DXC Technology since April 1, 2017 after the merger of Computer Sciences Corp (CSC) and the Enterprise Services Division of Hewlett Packard Enterprise (HPE). He previously served as the CEO of CSC since March 31, 2012. From 2012-2019, Lawrie realized $176,195,032 in total compensation.

Salvino's new annualized base salary is $1,250,000. His target bonus will be 200% of his base salary, and LTIP target percentage is 800%. He’ll also receive a combination of pro-rata RSU and PSU awards for fiscal 2020 with a grant-date value of $5 million and an inducement equity grant valued at $4.4 million. Salvino's total annual compensation will be approximately $13.8 million.

Guess what that Long Term Implamentation Plan (LTIP) is going to be....

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Post ID: @1mkc+12OUOfmF

Agree with the last comment - i think people who dont think pay rises are well overdue (13 years in some cases) are in cloud cuckoo land. If this company is to be turned around they will need to be automatic as most people are underpaid and so demorolised.

So asking for more work when more has been delivered isnt going to happen. Its like telling the customers we are going to charge you more for a rubbish service, the reaction you will get is im going elsewhere.

Words and promises wont do, action is required to motivate people, how stupid are the managment if they cant even figure that out.

Good people are fed up and are going to leave as theres more higher pay alternatives out there.

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Post ID: @1ejt+12OUOfmF

@1dea: "Any extra money is going to have to be worked for"

The problem with that statement is that assumes that nobody has worked for a pay hike already. And that statement, my friend, is pure fantasy; everyone has worked hard for years.

Just because Sal started recently doesn't mean that everyone else achievements are reset to zero. There is a massive multi-year (in some cases, multi-decade) legacy that needs to be acknowledged in terms of pay adjustments. Since Sal has pretty much said "no pay rises", you know exactly how he values you and your contribution to DXC: nil.

This guy is nothing more than a charlatan selling snake oil.

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Post ID: @1lgj+12OUOfmF
  • and as for what is needed to turn the place around, the biggest impact would be to devolve a lot of authority right down the structure, to let experts in each and every field have a free reign to design and develop products rather than the dictatorship that was the case before.

Combine that with genuine reward for success and you'll have an inspired and functional organisation.

I think there is a fair chance of this happening to be honest - if for no other reason than its the opposite of what came before and that's usually how these things flip around with regime change.

I still say though that anyone expecting automatic pay raises is living in cloud cuckoo land. Sure, I'd love one, but its not going to happen. Any extra money is going to have to be worked for - which is fine providing Sal doesn't renege on it like Mikey and the steak cutter absolutely did. Set us some well defined objectives that we personally can work on (not stupid broad brush corporate ones) and we'll show you Sal what we can do - despite everything that has happened, we do have a lot of excellent people who will respond to proper incentives that actually pay out.

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Post ID: @1dea+12OUOfmF

I'd heard the CFO was toast at the same time as the CEO and his friend actually.

The CFO was being held onto January only in order to show stability to Wall Street and to unpick some of the financial gymnastics he'd created.

It's not going to be long before he's gone - obviously the reason will be his desire to move somewhere else or retire, it won't be explained as a boot.

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Post ID: @1nrm+12OUOfmF

Would be good to get rid of Sal eh another milker of the system. How these people get away without delivering anything and getting paid millions. Theres so many managers in the company that love to come up with stupid rules and implement policies to stop work being done, than to actually develop and lead the company. Get rid of 4 layers of management and I don't mean musical chairs or wider layers. It's so simple sell products, meet customers, that's where the effort needs to be put, improve services by paying staff and developing them.

I think I could be the CEO, first pay rises can't delay any longer way past due date, and regular focus on sales targets.

It's not rocket science.

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Post ID: @nda+12OUOfmF

CFO, or anyone else won't show anyone that things will get better. The New Mike needs tom get the employee's behind him and that won't happen unless we see more money in our paychecks, get rid of two in a box management style, get managers who know something , set priorities so were not pulling in every direction and STOP the layoffs

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Post ID: @bvs+12OUOfmF

Is the steak cutter gone ,really

She made millions of dollars with I school diploma so she is smarter than you

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Post ID: @avg+12OUOfmF

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