SP 19% down after hours.
12 replies (most recent on top)
There never any raises to be had.
Imagine if DXC spent money on buying capabilities and small companies like the competition vs buying back stock. All buying stock back means is you dont know what to do with your cash.... come on man
@1osd+1syWw74H
The ca. $250m is an increase over FY24, where we spent $118m. So more like $370m total = 3,700 staff going.
In the UK, they only give you 2800 extra above statutory. So that’s not going to hurt them.
There was never a pay rise for general staff. Budget on 0%. In fact budget on not having a job at DXC within 12 months. And to be sure don't budget no any more than statutory redundancy pay.
$250M is only 2500 jobs to go from 130K so not that radical and much smaller than the $1B+ restructures of previous eras
Results as bad as expected, continuing shrinkage in all areas - what has made the news and caused the 22% after hours share price collapse (market cap now < $3B) is the gloomy FY25 forecast. Another $1B forecast lost in revenue.
Stock price has nothing to do with pay increases, you were never going to get them anyway
Raul confirmed big restructuring 250 million.
Finch, Brady, drumgoole all gone. Raul said they haven't delivered DXC still running on old systems which should have been integrated, self generated delivery issues.
New execs brought in to replace the gang and the execs have said things can be done a lot better.
So new team taking over from Mikey's gang.
How much did they spend on share buybacks?
You weren't expecting one, were you?
https://uk.investing.com/news/stock-market-news/dxc-technology-shares-tumble-on-weak-fy25-outlook-93CH-3501314