Thread regarding DXC Technology layoffs

"new broom Raul Fernandez, who joined the business in February"

Wrong. He's been a board member since November 2020.

Presumably paying no attention whilst collecting a wedge of money.

He's also been interim ceo since November 2023.

No, he has no excuses for not knowing how dxc works or what needs to be done.

Pay attention wallstreeter!

There is no guarantee that DXC will be sold, and new broom Raul Fernandez, who joined the business in February, hasn't yet had time to show investors he has the ability to turn the ship around.

the insurance biz is the "global leader in life and wealth, speciality and reinsurance while the company's technology processes one in five property and casualty transactions worldwide."

"The company has been making significant investments in the business over the past 18 months. As part of this, DXC has recruited (or in many cases rehired) around 1,500 insurance industry experts. As the insurance industry increasingly looks to modernize its IT estate, it is also worth noting that DXC Technology is the largest AWS insurance industry customer in the world and currently has around 20 million policies running on the AWS cloud."

[Complete article referenced by OP quoted below].

Jun. 10, 2024 4:06 PM ET
By: Joshua Fineman, SA News Editor

DXC Technology (NYSE:DXC) soared 12% on a report that private equity firm Apollo Global (APO) and Kyndryl (KD) are in discussions for a joint bid for the information technology services firm. DXC gained another 4% in after hours trading.

Apollo and Kyndryl (KD) have discussed an acquisition offer for DXC of between $22 and $25 per share, according to a Reuters report on Monday, which cited people familiar with the matter.

DXC is separately running a process to sell its insurance software business for more than $2 billion, and may opt to remain an independent company, according to the report.

DXC, which has a market cap of $3 billion, and Kyndryl did not immediately respond to Reuters requests for comment. Apollo declined to comment.

The latest report comes after Betaville in February said that there was speculation that DXC had attracted renewed takeover interest. DXC last March said that it was approached by a financial sponsor about a takeover, though no formal proposal was ever received and DXC terminated discussions.

The conclusion of the talks last March came after DXC first confirmed in October 2022 that it had been approached by a financial sponsor regarding a potential acquisition. Bloomberg reported at the time that DXC was approached by Baring Private Equity Asia.

"DXC will be cheap to buy"

Its clear the bid is well underpriced, they need to double the offer price.

Kyndryl just trying to buy on the cheap as they have promised some growth in 2025, looks to be buy and asset strip big style.

“DXC will be cheap to buy and the Kyndryl CEO is a finance guy so he will be able to drive synergies. If Kyndryl announces this deal, I would be bullish on the company’s prospects to drive innovation for clients and to drive out costs,” Di-kens said. “This acquisition would bring incremental growth to Kyndryl, which is the company’s focus in 2025.”

@2cmc+1sXbjBWO they atleast have an excuse given they where broken out of ibm

Makes me laugh Kyndryl Q4 revenue was down 10% ...doing worse than DXC.

Shareholders are in a sticky position Raul hasn't achieved much in 6 months, his now into his 3rd quarter, his just brought in more people on top of the existing useless ones which serve no purpose from Mikes lot, and flown round the world stating the obvious that the workers on the ground are good, the company is badly marketed, there's too much overhead, process, and managers. He could of got that info from someone on the ground on day 1 saving 6 months and alot of wasted $.

What do you do as a shareholder? accept a low underrvalue bid or give Raul some more time, if the latter Raul needs to get a move on and communicate a proper plan quickly.

The Finch will survive whatever happens, she has control over weak men.

Doesn't matter if the merger happens or not she will remain, in DXC or Kyndryl its guaranteed.

Finchy is going nowhere. Mike said he will ensure his Finchy will remain for the other services she offered.

That's been proved correct, Raul has been unable to unseat her even after he has publicly stated she is useless at delivering.

She is getting that huge amount for even less work, a been big victory for her.

Does that mean Mary on her high pay will finally go?

It means EVERYONE will finally go, to multiple different locations as Kyndryl assimilates GIS, Insurance goes standalone and rest of GBS is packaged up by Apollo and sold off in pieces to various bidders

@1keu+1sXbjBWO HR Yahoo cutbacks - Does that mean Mary on her high pay will finally go?

If Kyndrl takes over, you will see most of internal yahoos from HR, finance, procurement and all other internal functions will be sent home.

I know Kyndryl doesn't give job offers to everyone when they take over. And the folks that do get offers are low-balled to death. I know of one person who went over to Kyndryl for low dollar then threatened to quit if they didn't get a pay raise immediately. They got a significant pay raise because of customer criticality of this particular employee. All the others that went over got HUGE cut in pay rates. i.e. THEY GOT SHAFTED!!!!

@pcj+1sXbjBWO technically the deal is for $34 since they're going to sell insurance separately for $2-$3 Billion which if my math is correct = roughly $11 a share.

Trying to buy it on the cheap for 22-24 dollars per share when ATOS bid 40.

Typical mismanagement by the gangs at the top who have been milking the money out of the company, anything less than 33 dollars per share is giving it in the cheap.

Can things GET any gloomier? (In a Chandler Bing ezee)

Oh jeez!!!!