The new CEO just started in Sep. It takes time to bring a failing company up to par. Some of u sound unrealistic in your expectations & I can't help but wonder if your giving as much as u expect to receive. If you r not part of the solution you r part of the problem. If you r that unhappy do something about it & leave.
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Nobody invests money in a company to see it use that money to grow so they receive dividends. are you crazy I am earning $25,000+ in Dividends each year so Yes it is still done
The new CEO just started in Sep thats BUll. He has been on the board for months and should of had a plan so when he hit the floor he should have been running
I sold my shares in DXC before the price slumped, so Kiss My @ss DXC management.
"Shareholders" is not a permanent thing anymore - this isn't the olden days. Nobody invests money in a company to see it use that money to grow so they receive dividends.
Being a shareholder now is like playing pass the ticking time bomb. You try to not be the one holding it when it goes pop.
And that's not just DXC, that's Wall Street.
The shareholders who lost when DXC went pop aren't the same ones who received all of that juicy goodness Mikey gave them - they are long gone, like him.
The management of this company is giving nothing to the shareholders neither . The stock collapsed from near $100 to $25 recently. The dividend yield is a pidly around 2% percent.
In comparison AT&Ts stock price has risen 45% in the last year and pays over 5% in dividends.
So wheres all the money going you may ask? Senior management are on big pay with rises every year.
Sorry shareholders, sorry staff you ain't going to get anything.
@bvvn & @bato, since the mid-1970's, the focus of public companies has been "shareholder value". It's ALL about maximizing shareholder value, and in this endeavor Lawrie has been an abject failure. As you two pointed out, the number of lives destroyed in the quest for shareholder value is well north of 120,000 skilled and dedicated people.
Don't forget the blight from the early 90's onwards, "Reengineering the Corporation" (ie. fire as many people as possible to raise the share price) started at CSC: their name is literally on the book (cite: https://www.pocketbook.co.uk/blog/2017/06/20/michael-hammer-james-champy-business-process-reengineering/). This was derived from an earlier article Reengineering Work: Don’t Automate, Obliterate. Enough said.
I will NEVER work for a large corporation again. The two I have worked at (Fujitsu and DXC) disgust me. From now on, I will ONLY work for smaller, privately held companies where the focus from the owners and upper management is keeping the employees happy (within reason, of course. Poorly performing employees need either help to achieve or help out the door), as happy employees who aren't stressed that the next rental increase will drive their monthly budgets into the red can focus on delighting customers. Employees who don't have to choose sub-standard health insurance to balance their books are employees who can focus on being healthy.
DXC needs to either fail and go away, or get broken up into smaller companies that are able to give a damn about their employees. It's too big (despite Mikey efforts) to succeed as it currently stands, and it's reputation preceeds it now. Let's not talk about its wake (ie. what do you see after DXC has passed: is it calm and happy, or turbulent?).
Old Mkey received other fringe benefits, such as having his steak cut into smaller pieces and countless bonuses for WFR'ing hardworking employees who expended more energy than Old Mikey. In 9 days time he will be destined for the dust bin at Palm Beach and no longer a blight on DXC.
@bato, spot on post. And as you say no one outside of this Board seems to give a sh–e. 110,000 people, plus 1000’s and 1000’s more. It’s utterly disgusting and shameful.
" From 2012-2019, Lawrie realized $176,195,032 in total compensation"
That will definitely be just pay. On top of that he received a massive amount of shares and as a massive share holder he then received huge swathes of money in various "returning value to the shareholders" - eg when CSC sold NPS, but others too.
As well, he was a big beneficiary from all of the share repurchases.
I'd actually put his total "take" from CSC/DXC at north of half a billion.
And all of that for returning DXC's shareprice to where CSC was when he walked in the door - after having destroyed over 110,000 people's jobs. ONE HUNDRED AND TEN THOUSAND PEOPLE.
We might moan on here, but this is world class disaster we are talking about. Largely without any mainstream media commentary either.
Top man mikey, if he can pull the wool over the eyes of so many and blag his way using "book to bill ratios" then he can book to bill $176 million into his bank account.
How much can Sal and Saleh Paul take out. Seems like you've got to be a Mikey or Sal eh to pull these off.
Mikey 1 took a staggering $176 Million from 2012 - 2019 for what?
Mikey 2 will probably do similar
Bash the staff thats all they do, bloodsuckers.
October 3, 2019
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.
From the article below, Just shows how the Company and Management havent changed in 13+ years except to go backwards and not bieng honest.
"She added that any suggestion that the mince pies were the only bonus CSC employees would receive this year was "absurd".
CSC, which was recently short-listed as a possible supplier for the UK government's ID card scheme, has been going through several rounds of redundancies to sc-ap up to 5,000 staff across Europe.
In October, it announced plans to shift more UK jobs at its global infrastructure services unit offshore in an effort to control costs.
The firm had been hoping to complete most of that process by Christmas, which will save even more cash on those pricey mince pies it's generously dishing out."
Ahhhh yes, who could forget the CSC Mince Pie episode:
It really happened...
Mince pies lol what a bribe, Bah humbug scrooze sums up the Top Management of the company.
What does Dont be a Scrooge mean?
In the English language, a scrooge – with a lowercase “s” – is a person who is unwilling to give to others. Others words with the same meaning are miserly and stingy. Scrooges are selfish, and not just at Christmas time or the holidays.
If your in the UK CSC used to give out Mice Pies instead of pay rises so your wont help with your -35% down, but even the mince pies have been cut out for the last 10 years.
Expect to get lots of non meaning email thank you's and wishing you all the best standard guff to motivate you which your email forwarding should have been setup to bin on receiving,
@8oya: You said two things of interest:
- "Its hard to come to work every day when you know the CEO despises you still being there"
- "I'm in the UK and zero pay raises for 10 years ... 31.8% worse off for that."
Your first statement is true and your second statement seems spot-on.
I get the UK has been paralyzed for three years now, and with BoJo now basically unfettered who know what the future will bring. But still... surely there are better opportunities out there? Why start where you are despised AND the senior management takes great pride in cutting your real wages year after year?
@12pY1pWe-7mgg you only slightly joke about this - whilst its a given that "higher ups" earn more in any company, this place does suffer from a massive sense of inequality. Not necessarily in pure dollar terms (because that's always the case as I say) but in terms of there being extra money to hand around at the top while everyone else is told there isn't any and headcount reduction happening all over the bottom.
Its particularly a problem in the USA and Europe where employees have literally been treated as sh1t the company wants rid of. Its hard to come to work every day when you know the CEO despises you still being there.
Fixing the idea that the actual workers are utterly worthless is an important thing. Whether that is purely financial or a combination of financial and emotional is moot.
I'm in the UK and zero pay raises for 10 years is pretty shocking. According to the Bank of England inflation calculator i'm 31.8% worse off for that. That's almost one third of my salary. It's not a trifling amount. The much discussed 5% raise wouldn't go far to correct that.
Sure, I could leave, but that does not change the fact that I think this should be better than it is.
Mickey mouse company where the money is siphoned out at top level management in terms of Millions of USD.
The lower staff are rewarded by instructing them to carry out initiatives and useless workshop strategy ideas without any reward and told be grateful you have a job.
A truly Victorian style of management in a digital and dynamic age.
The CEO's are actually called Mickey.
There's negativity because Mike Salvino had the chance for a turn around. Now we have a new logo, a new buzzword "Enterprise Technology Stack" (borrowed from Accenture) but actions speek louder than words.
And there are no actions which show that DXC starts to appreciate its employees. Without the emails introducing our new CEO I wouldn't have noticed that Mike Lawrie has left the company.
There's negativity because people are upset and constantly getting screwed over. There's horrible management, overworked and underpaid individuals who are given (not the worst) but certainly not the best benefits in the world of IT contractors and...as mentioned above...the company has a responsibility to keep its employees happy. I am willing to forgive the atrocities of the company of they just start recognizing people's complaints and start giving out raises again. Yes we could just get a new job and work elsewhere (and trust me a lot of people were forced to do that for their own sake or due to getting laid off) but the situation won't improve if people don't say what's wrong.
Trust me when i say this:
More wfr coming within 1 month and more before April.
I know this from very senior people.
Projects gearing up to ring fence people to keep the projects safe from wfr.
No bull, its happening.
Not just Mike S what about Paul Saleh his been getting Millions for years under Lawrie and now under Mike S.
How do these people get away with it for so long. Supposedly there's no money for pay rises, but there is for the chosen ones.
I'm not naive at AT&T we get pay rises and bonuses every year. I just feel sorry working with you guys. Our company is in a mess with the Time Warner deal etc but they ont use that as an excuse, they treat us good. If army a time when America is booming they can't give you a rise then there's little future.
I'm sure Mike S can keep expecting you guys to deliver if your not even getting cost if living rises for a 11 years/decade.
All that will happen is that company will fail eventually, that's reality.
you are the ideal employee for dxc. naive and blind.
i remember those days at CSC where year on year no pay rises. I was looking at my previous CSC payslip and since we have moved to AT&T my payslip has gone up by nearly half again. We get cost of living rises and bonuses every year wheter we work hard or not. In fact as DXC keep losing customers we end up doing less for the same pay.
I feel embarrased working alongside DXC collegues who i have been working with years hearing them say they are not even getting cost of living rises and are having to work a lot harder due to the quartery WFR's.
Mike Salvino sounds like a decent bloke but until he shows he is fair and delivers on pay i dont think his Technolgy Stack idea will work as staff are so demoralised. Its in our interest for DXC to do well, but luckily since moving to AT&T my retirement funds look alot healthier than they ever would under CSC and am looking to retire 5 years earlier.
Mike S do the honourable thing and give them a fair Christmas present.
Your talking so much bull. You think we are stupid. If they are making so much Mike L should have not outsourced the network to them, was just one more of his stupid actions so he could milk 30million a year.
AT&T has a borrowings of $158 billion. So not exactly very healthy.
Yet It's pays its staff pay rises and bonuses totalling around 10% per year. The Shareholders also get just under 6%.
So basically if they can afford to give such large rises to staff who sit next to us DXC are in much less borrowing, and only pay shareholders 2% so the money is going on the fat cats.
Maybe the strategy should be to give the company to AT&T for free and everyone would at least be better off with a pay and decent share dividends.
because they work for a company that makes money hand over fist! DXC is just a a little client in the AT&T machine.
How are the AT&T staff getting 4%+ pay rises and annual bonuses on top every year. Why don't we In source that and give our folks the rises.
If you have no costs you have no customers, and no profits.
The operation needs to be efficient, less processes, less management overhead, optimum staffing.
If you try and overwork the staff with minimal pay it's not going to be a growth model and the stack won't stack up.
Hopefully Mikes will deliver us a 5% Christmas present shortly.
DXC treats its employees as a cost which can easily be reduced by disposing of as much headcount as possible, as quickly as possible. DXC is the problem and employees have the solution in their hands: Either jump or wait to be pushed.
Hit the nail on the head there's too many layers of management and the strategy doesn't mention addressing that. Would make the company efficient and strategy easy to implement.
Post ID: @12pY1pWe-rmq Myb resume is out there, but being over 60 there is not a lot of takers. I want to work close to home or better yet remotely. I still run circles around most of the younger people doing my role from India and elsewhere too.
If I find something I'll leave with no notice at all, because DXC doesn't give notice with Riff's. Leadership from the TOP down to my 2 or 3 managers s—s. Two-in-box management is a waste of money , get rid of 1/2 of them and lets get some work done
Bravo. I am fatigued by the negativity as well.
He was on the board for 6 months , he should of had a plan! He should have given every employee with some exceeds expectations a instant raise!
So no the New Mike (Sal) is sane as the old.
He allowing delivery to outsource to our vendors instead of keeping DXC employees working on DXC projects. The vendor people are contractors who don’t even know the product we are delivering as well
DXC senior leaders worried about how DXC is being correctly assessed and portrayed on the ‘Layoff’ again I see. Post by WSV is spot on. Keep getting the truth out there folks.
EDS was a fire sale at ten cents on the dollar
Sal is looking to make DXC into EDS
Outsourcing is a legacy business and outsourcing to India is a low-margin low-skilled high-volume business
The best guild people are in Poland not India
If you want to be in the outsourcing business then stay at dxc
Don't expect to pay raise just because you want one
I want a pony
I will give u an example. I found your comments short minded and your insults ignorant so instead of going on and on griping I i choose to remove myself from the conversation. Noone is holding anyone hostage if you are that unhappy / resentful you really should find other employment. It's just common sense. Good luck to you.
I said "some people" & I didnt mention what I considered unrealistic. So all your comments on what I believe are just your assumptions. I was not referring to ANYTHING you wrote. Before making assumptions you could do something as simple as JUST ASKING what I was referring to. Personally if I feel I am really unhappy instead of continually griping I put my resume out there and leave. Also as far as maturity goes i have read comments and disagreed without resorting to insults . I really dont understand what maturity has in common with an opinion but I guess in the world u live in it does.
Everyone came to DXC from somewhere else and i understand a lot of CSC people would be negative given they had to deal with Mike Lawrie before any of us knew what jerks he and his girlfriend are!
Wow. So basically you're saying that after CSC / DXC repeatedly kicks people in the teeth, those same people should be grateful and give DXC more time. And hey, maybe even become part of the solution?
No. It is NOT unrealistic to expect a company to act with some level of compassion towards its employees. It's NOT unrealistic to think that a company might actually start valuing its employees. Everyone that I know at DXC gives 100%, sometimes more, in order to keep clients satisfied. It is NOT unrealistic to expect these people to be rewarded for those efforts.
Grow up and take your pithy comments somewhere else where they may be appreciated, like Twitter.