Thread regarding DXC Technology layoffs

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How long can a company say they are in transformation, especially since we market digital transformation to other companies?

And the we care about our people is total bull! If they really cared we would of had the pay rasies in in our checks at review time and the board / VP's , directors would have taken a cut in their stock options and pay to help pay for it.

My wife works for a company where all board / VP's , directors would have taken a cut in their stock options as a show of unity with the workers and then gave the good performers 3 - 6% raises and bonus money plus $100 a month for work from home office supplies

Who do they think they are fooling with all of these people first comments? What a joke!!! Their actions speak louder than words. They seem to think they can be politicians and repeat a lie often enough that it becomes seen as a truth. We are learning during the current review process that all these promises of merit increases are untrue. Employees who have been graded as 1's and 2's in the past and have been performing at even higher levels due to the loss of coworkers and more offshoring are receiving 3's. What a slap in the face!!

I know someone on here talked about Salvino being MIA but I am rather surprised to find that this morning I wake up to the financial news that DXC did release its numbers, did have an analysts call but hasn't sent all staff an email with a message about the results.

In all of my years with this company and the ones before it, I've never seen a year end not marked with at least a brief attempt to find positives or a straight up "it was our FY end announcement yesterday, lets all work harder for the next FY". Those emails usually are sent exactly on the moment they announce the figures to the market.

I thought "new DXC" was about communication and honesty.

they are well aware that shrinking revenue on average by $1-2B every year since DXC started, and exactly the same amount forecast yet again for the coming year is not ideal - how they managed to not increase revenue in cloud or security or especially workplace in the past year is a mystery. With COVID its been the easiest year since Y2K investments in 1998-9 to sell workplace services as companies scrambled to move all their staff to remote working and continue to support them - yet here we are with DXC reporting a decline in that very area!

I cannot comprehend how oblivious this new leadership is to the situation. Losing nearly 2 billion in revenue in one year's time is NOT a sign of a healthy company.

Dxc had 12 billion dollars in debt and paid off 6.5 billion dollars with $700 million the last quarter but still has 5.5 billion dollars of debt and the new CFO Ken Sharpie says dxc still has too much debt

You said the other IT services firms also had this much debt who are you talking about what company? CSC got 1 billion dollars in cash and took on two billion dollars in debt from EDS. Reverse Morris trust is financial magic to avoid taxes EDS did not require CSC it's the other way around. Just look at AT&t and Warner media with discovery. HP paid CSC to take EDS off their hands AT&t is paying discovery to take Warner media off their hands. In reality Warner media is not acquiring discovery it's simply income tax magic to avoid paying taxes as long as the small guy is 51% of the new company and you can take advantage of the shareholders either HP or AT&t

They are not trying to convince the long term investors. Most of those private equity firms know the company is fu##ed, and had already reduced their equity stakes after Mikey #1 gave that infamous ‘revised forecast without warning’ - despite the promises - and DXC’s disappointing 2019 quarterly report sent the stock price through the floor leaving DXC stock worth diddly squat. They are trying to attract the short term investors or at least hope they possess the memory of a fish. They need gullible investors to offset their mounting debt. But any shareholder with half a brain isn’t going to fall for ‘this load of old ‘the stock is under-valued’ cr@p again. Not after 4 years.

As long as they finish paying off my buyout and haven't robbed the pensions, I don't care anymore. Hey, I could be a DXC executive with this attitude!

and in a parallel universe where DXC management live, revenues "stabilized" further with a 8.9% drop in the quarter meaning a 9.4% drop for the full year. DXC is now 4 years old and revenues are approximately 30% lower than what they were 4 years ago.
Even better is the comment "offset by declines in Cloud and Security and Modern Workplace" - er isn't that where everyone else is saying the future is and what their focus is? so DXC focus is what exactly - traditional data centers? legacy infrastructure?
and the forecast for next year? Another $1B+ decline in revenue, with $550M allocated to restructuring costs