Thread regarding DXC Technology layoffs

" if we're not getting COLA, we will go get COLA"

Mikey "theShouter" Mk 2 makes sure DXC is getting there godda-it but employees? Any the strategy for GIS - "Price Increases" (Slide 19). Nice to see that as part of good governance (eh. MikeyMk2 just appointed himself Chairman which is recognised as worst practice) they are gonna start paying for "voluntary exits".... hold on you say... "voluntary exits".... yep, there's gonna a be a culling..

by
| 2043 views | | 16 replies (last )
Post ID: @OP+1gWKvfSo

16 replies (most recent on top)

Mike S is now chairman of the board.

https://dxc.com/us/en/about-us/newsroom/press-releases/05172022

by
|
Post ID: @Smbs+1gWKvfSo

@pkme+1gWKvfSo
That cr-p is in the source you provided.

Page 28. “Based on the above, the independent directors of the Board determined that, upon Mr. Read’s retirement as Chairman effective at the 2022 Annual Meeting, a combined Chairman and CEO structure, together with a Lead Independent Director with clearly defined and robust responsibilities, provides the most effective leadership structure for the Company at this time.“

Mo--n.

by
|
Post ID: @pbnp+1gWKvfSo

Mike S is NOT Chairman of the board, see https://investors.dxc.com/financials/sec-filings/sec-filings-details/default.aspx?FilingId=15888629

Where do you people find this cr-p

by
|
Post ID: @pkme+1gWKvfSo

If your in IT and "struggling to buy food essentials." then you either have too many kids (and that's your own fault) or your not very good at what you do, as your paid so little

by
|
Post ID: @6lai+1gWKvfSo

Well I'm not getting any COLA as I'm struggling to buy food essentials.

The cost of food is soaring and so are energy bills.

Mike needs to live on real world wages to experience back to the floor and how it's difficult to survive month to month and debts that are bieng built.

Maybe then he will appreciate why pay is important to staff and their families.

by
|
Post ID: @5yph+1gWKvfSo

Ffs who cares if COLA or Pepsi.

We just want to be given fair pay.

With inflation at 9%+ it can't be that difficult to work out.

All other budgeting is done in advance.

We have a incompetent HR vp and now the Finance guy is becoming dodgy as he cant budget for pay neither.

by
|
Post ID: @5kxa+1gWKvfSo

I've still no idea how anyone accepts bs based on NON-GAAP numbers. NON-GAAP is basically fantasy.

As for cola, don't imagine it's your cost of living he's talking about. He's simply saying that they want inflationary contract pricing to keep their margins.

by
|
Post ID: @5ibp+1gWKvfSo

You know Salvino was at Accenture back when it was Andersen consulting. (Ie. arthur andersen the Enron auditor.) Maybe he picked up a few tricks? You know the U.S SEC has a bounty program you might be able to cash in lol.

by
|
Post ID: @5wwo+1gWKvfSo
  1. Accounting practices that disguised the fundamentals
  2. Poorly constructed compensation structures that rewarded unprofitable behavior
  3. Believable guiding visions
  4. Stakeholders/watchdogs overlooking bad behavior as long as they were profiting
  5. Looking to others believing they had done their due diligence
  6. Big bets on businesses that failed
  7. Complex dependencies that required progressively bigger risks or face complete failure
  8. An unwillingness to consider the worst case scenario seriously
  9. Bad appointments to senior managers
  10. Punishments for dissent/skepticism

Sound familiar? Its why Enron failed. Don't know about you but I can tick at least 9 of those boxes at DXC.

by
|
Post ID: @4uzw+1gWKvfSo
What do you think of the New bookings they reported? Is that number inflated too?

Again its a matter of interpretation, and not all bookings eventually turn into the revenue expected (partially due to discounts when it comes time to convert bookings into real revenue).
Also ask yourself if bookings are > 1.0 as DXC claim, why are they forecasting a large decline in revenue for yet another year?

by
|
Post ID: @4qxl+1gWKvfSo

I see that makes sense thanks. What do you think of the New bookings they reported? Is that number inflated too?

by
|
Post ID: @4bnt+1gWKvfSo
If inflation is eating into profits and margins then why did they report that EBIT Margin is up? Are they lying about the finacials?

No, given there are numerous (legal) ways to interpret financials allowing at least for a short period of time to report improving EBIT and EPS, especially in multi-year services contracts - but these will catch up with you eventually hence their increasing concern on COLA (after all you can recognize a lot of revenue up front and amortize some costs until later)

by
|
Post ID: @4als+1gWKvfSo

If inflation is eating into profits and margins then why did they report that EBIT Margin is up? Are they lying about the finacials?

by
|
Post ID: @3apq+1gWKvfSo

shouty mikey was referring more to contracts that DXC were so desperate to sign with clients (any revenue being better than yet more no revenue stories) that they didn't push for COLA in the contracts. Now inflation is a real thing again they are panicking that margins will be (further) eroded so are having to go back to clients to try and get COLA increases, which risks contracts being lost early or further revenue declines (they get COLA but lose some scope of contract)

by
|
Post ID: @2jkg+1gWKvfSo

What sort of blagger is Mike.

One minute he says we get COLA next he says if we're not getting COLA we will.

Doesn't know left from right.

So if your getting COLA who has been getting as staff haven't had it.

And if your getting COLA it's easy we should know what pay rises we will get by now.

Total shameless, a job badly done by HR director and Mike.

How do they run the company?

by
|
Post ID: @1wlh+1gWKvfSo

Voluntary exits there is always voluntary exits! Or to you mean voluntary exits with severance pay?

by
|
Post ID: @lne+1gWKvfSo

Post a reply

: