TYSONS, Va., September 13, 2021--(BUSINESS WIRE)--DXC Technology (NYSE: DXC) President and CEO Mike Salvino and members of the DXC leadership team today rang the New York Stock Exchange Closing Bell® to celebrate their bonuses, falling share price, ongoing layoffs and the hollowing out of the organisation.
Mike Salvino said "now is the right time to move on. The foundations of the transformation have been laid and I am proud of how much I've earned in such a little period of time for nothing more than rhetoric and layoffs. I've shared this good fortune with close friends and former colleagues who have benefitted from my inarticulate non-GAAP, playbook, ITO-first mantra to the gullible fools of wall street. It would be remiss if I didn't acknowledge the analysts at Deutsche bank who have had us a hold or a buy from $90 to $17 and through out our current dead cat bounce."
The board has announced a search is on for Mikey3 and Steakcutter3.
Ian Read, Chairman of DXC, "I delighted with the progress Mike and Mary have made over the past couple of years. Our strategy to seize the market is paying dividends while revenues decline. We continue to be replaced by agile niche players, cheaper pure plays and more competent GSI. We continue to alienate and reduce our valuable workforce. And we are looking to build on this success. Now is the time for a fresh leadership team to build the "new new DXC" which will focus on expanding our margins through overcharging and underdelivering to our dwindling captive platinum customers while further reducing capability and costs through layoffs."