Thread regarding DXC Technology layoffs

Doing such a good job, now Chairman of the Board

On May 17, 2022, the board of directors (the “Board”) of DXC Technology Company (the “Company”) appointed Michael J. Salvino, the Company’s President
and Chief Executive Officer, who currently also serves as a member of the Board, to serve as Chairman of the Board, effective after the Company’s Annual
Meeting of Stockholders on July 26, 2022 (the “2022 Annual Meeting”). Mr. Salvino

Lets steal more money from the stock holders , clients and employee's... Dam he should have been fired for not turning the company around!

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Post ID: @OP+1gM15K57

13 replies (most recent on top)

so totally consistent with a change of Chairman/President/CEO/Mr Shouty in about Sep 2023 when the Q1 results for FY24 show the 5 years of decline since DXC was created are continuing - and on the 4th anniversary of when he took over - as forecast multiple times in this forum
Wonder how much more can be wasted buying and retiring stock in the next 15 months.
Spent $271M in the last 3 months, and the value (market cap) of the company is now $1.5B lower than 3 months ago ... money really well spent.

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Post ID: @9wwl+1gM15K57

Glad it's not just me that thought the analysts were giving our glorious leader a hard time.
So FY24 is when the magic will happen, not last year (FY22) as us long suffering staff were told, not the year that's just started (FY23), but the year after that. Just how stupid do they think people are keep promising "tomorrow" and also "look how profitable" we'll be in FY24, even the analysts called them out on the large jump in FY24.

So want to bet that the town hall will say no pay rises until FY24?

A bunch of opportunists lining their own pocket at our expense.

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Post ID: @9eit+1gM15K57

Interesting interpretation by the Chairman in the analysts call on what the word "grow" actually means
Claimed GBS grew in Q4 and that made four consecutive quarters of growth in GBS.
GBS in Q4 went from $1.99B (Q4FY21) to $1.89B this quarter so a "growth" of -5.4%
GBS over the whole year went from $8.34B to $7,58B this year so a "growth" of -8.9%
Still that was held up as the good news, the bad news are those in GIS (Cloud, Workplace, Security etc) as apparently you will get "special" focus to reduce costs in the coming year
No wonder the analysts gave Mikey2 such a hard time on the call about believing his forecast that revenues will grow (using the more conventional understanding of the word) in FY24!

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Post ID: @9dpv+1gM15K57

New Chairman doing a great job already - Q4 revenue misses guidance and down 8.6% on previous Q4
FY22 total revenue down $1.5B (down 8.3%) to $16.3B
Forecast Q1 FY23 revenue down 11-12% on Q1 FY22
Forecast FY23 total revenue down another $1.4B (8.5%) to $14.9B
Nothing to see here, all going according to plan, please move along ...

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Post ID: @8jvp+1gM15K57

1gM15K57 - missed unhappy clients --

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Post ID: @8itx+1gM15K57

Function {Re-org}

new M3 = V-node ;
New Big_Cheese = Drum_stick ;
Employee_Salary - - ;
Scammers++ ;

End Function

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Post ID: @4jxt+1gM15K57

If there is M3, expect Steak cutter 3 as well as a bunch of C3's (aka cronies).... and by default all E's (employees) get shafted. Will there ever be a redemption for us?

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Post ID: @1vbe+1gM15K57

I suspect the new M3 will be announced soon.

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Post ID: @1dye+1gM15K57

Self governance rarely works and likely get double the salary for doing double the position along with double the renumeration package and share deal.

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Post ID: @1jtv+1gM15K57

I thought that the president+ceo+chairman issue of M1 was a serious governance issue that they were trying to fix for ESG reporting problems...

In fact, I am sure that was top of the list when M2 walked in...

Next thing: chairman of the executive remuneration committee and buying the biggest house in Florida he can find.

We might as well rename the top position as Mx

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Post ID: @1bbq+1gM15K57

Seems like a very poor choice in terms of good corporate governance.

The Chairman is meant to hold the CEO to account, if the same person holds both roles how does that accountability work?

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Post ID: @1knz+1gM15K57

President, CEO, and Chairman... haven't we all seen that before?

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Post ID: @1rls+1gM15K57

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