Michael Salvino, President and Chief Executive Officer
Total FY21 Compensation: $21,733,120
Total FY20 Compensation: $13,320,505
And he gets mad when we ask why are pay increases were less than 5%
15 replies (most recent on top)
Salvino doesn't give two hoots what anyone thinks. He's already made tens of millions since arriving at DXC. He goes to bed every night chuckling at how id--ts are making him rich. I still find it amazing how the head of HR is getting paid around 8 million a year. The head of HR? That's like the Roman Emperor Caligula promoting his horse to be a senator. Your person in charge of HR... not operations, not technology, not strategy, the person who basically supervises the payroll and sends emails describing how a handful of fuzzy social justice issues are so important to us all... it's so obscene that it's actually funny. These people are taking every single DXC employee for a fool. Get out now.
Was proposed, but not accepted
DXC Shareholders Reject Executive Compensation
A majority of shareholders’ share were cast against approving the executive compensation for DXC’s named executive team, which is not surprising given the company’s revenue and earnings have fallen steadily since fiscal 2018
https://www.crn.com/news/managed-services/dxc-shareholders-reject-executive-compensation
The CEO of my company confirmed UK locations for this year's Christmas parties. He said that cancelling them in the current economic environment would have been an easy cost-saving, but recognising the difficult past 2 years we've all had, that to cancel them 'would not be the right thing to do'. So a chance to meet up with faces I usually only ever see on teams these days with only a few days a week in the office, that often looks half full but people are returning.
I still remember DXC toxicity and often check back to see if things have changed for those still there. Life feels good when you leave DXC and join a company that cares about its staff, makes use of your ideas and where each day is different work in different places where you really feel you are valued for your contribution. It actually makes you feel happier and more engaged too.
For the first year, I felt sorry for people left behind, who I knew had excellent skills and work ethic but continued to be exploited and told they are not adaptable because they won't take on the work of more leavers, when they already took on too much work and felt that quality or delivery was being compromised. They were made to feel worthless by top management.
When they left they got great jobs and positions they had tried so hard to achieve in DXC and felt like endless promises but had to swim through treacle with no chance of promotion or pay increase. Now they work for big telecomms, security consultancies, financial institutions or health trusts and have been promoted with pay rises or have been given opportunities, training and responsible positions that they feet they would never have got in a million years at DXC. Which is a shame, because DXC's marketing used to pretend it was a company of opportunity.
Yet I saw so many talented people denied promotion and even one excellent worker on the cards for a fast-track promotion being told they could have the title in a year, but no increase in salary would be likely. The answer was "why should I bother here?" I had to tell her she shouldn't.
Grads that joined and left DXC and left in the same 12 months are now associate managers with big companies. We know if they had stayed on DXC that would have taken 4-5 years of doing the same job with rated 1's or 2's every year and likley no monetary increase.
So I am pleased for them and would definitely encourage anyone else wishing to improve their situation to get out of DXC. Not because I am a bitter and twisted ex-employee who wants DXC to collapse :-) But because I really do believe work outside DXC will create a much happier and healthier 'you!'
Just keep trying.
Based on the last SEC filing and Mike2 says there is not enough money to give employee's a cost of living pay increase as well as merit. For me inflation was closer to 19% from my previous increase and my raise was only 4%. I say Duck (replace the D with an F) the executive team
Who # stock price amount received
Finch Mary E 4,865 $36.28 $176,502.20
Bagal Vinod 4,425 $36.28 $160,539.00
DECKELMAN WILLIAM L JR 4,425 $36.28 $160,539.00
WHO "Amount of Securities
Beneficially Owned Following
Reported Transaction and worth"
Finch Mary E 221,425 $8,033,299.00
Bagal Vinod 153,028 $5,551,855.84
DECKELMAN WILLIAM L JR 165,946 $6,020,520.88
Based on the last SEC filing
Who # stock price amount received
Finch Mary E 4,865 $36.28 $176,502.20
Bagal Vinod 4,425 $36.28 $160,539.00
DECKELMAN WILLIAM L JR 4,425 $36.28 $160,539.00
WHO "Amount of Securities
Beneficially Owned Following
Reported Transaction and worth"
Finch Mary E 221,425 $8,033,299.00
Bagal Vinod 153,028 $5,551,855.84
DECKELMAN WILLIAM L JR 165,946 $6,020,520.88
@1mvx+1cB9Ok9h: I love the comment "Taken care of our people throughout the pandemic". They took care of them, all right. They were fired without a second's thought. Fortunately, the company I now work for was able to scoop the talented people up.
" I am looking forward to that arrogance biting the CEO on the A-s."
Do you really think Big Mike worries about being embarrassed when everything collapses? He's a typical CEO who only cares about himself (or herself in some rare cases). Imagine the conversation at the local country club. "Yes, I managed XYZ corporation. It took ten years to ruin it, and I managed to milk $87 million out of the deal." Big Mike: " I took a troubled IT company and managed to cut revenue in half in only a couple of years, and got paid tens of millions to accomplish that." Tremendous laughter and back slapping ensues ...
The deception on Wall Street and internally continues to unravel!
One has no moral integrity to state that "Priority 1 of the Transformation Journey is to 'Inspire and Take Care of Our Colleagues'".
Supposedly evidence is claimed by:
- New Chief Marketing Officer rounds out our refreshed management team
- Investing in our colleagues:
– Paid annual bonuses that benefited ~45,000 colleagues
– Merit increases that will touch ~77,500 colleagues
– Taken care of our people throughout the pandemic
- Increased employee engagement helps us deliver and grow our customers
Let's challenge those claims:
"2. Investing in our colleagues" is a fake statement. The annual bonuses were paid to the pretenders (aka the horrifying army of overhead) and merit increases were merely tokens of charity to employees. One did certainly not take care of employees throughout the pandemic as all extra costs (paper, heating, ink, etc) are to be paid by the employees while the governments in many countries provided tax free mechanisms to reimburse employees.
"3. Increased employee engagement helps us deliver and grow our customers" is a (bad) joke! We are still waiting for the results of the last questionnaire and the tangible results from the actions taken to improve engagement. If # voluntary leaves would be a good metric for engagement, that statement would be a lie.
"1. New Chief Marketing Officer rounds out our refreshed management team" is an extension of the gang. Cannot wait to see the impact in BtB!
A leadership (team) without moral integrity, without credibility, without respect from its employees, shareholders and business partners and a without a (growth) plan is dead meat.
“Take care of your employees and they will take care of your business. It’s as simple as that”-Richard Branson
“Customers will never love a company until the employees love it first”-Simon Sinek
https://s27.q4cdn.com/120381974/files/doc_financials/2022/q1/Q1-FY22-Deck-FINAL.pdf
https://www.fool.com/earnings/call-transcripts/2021/08/05/dxc-technology-company-dxc-q1-2022-earnings-call-t/
@ioa+1cB9Ok9h - That arrogance, expecting employees to kowtow to him, his dire leadership and failed policy. Telling people to f-ck off if they do not like it?
He is very short sighted, who the f-ck is gonna buy those contracts from DXC when they are costing the company $$$ to run? To sell the show it will require an expensive program of retention and counter offers - turn accounts green long enough to pass buyer diligence!
Why would anyone buy DXC now? Hold fast and pickup the clients for free as DXC implodes.
DXC WILL NEVER AGAIN PAY A DIVIDEND? it is gone.. The shorts will be out soon, I am looking forward to that arrogance biting the CEO on the A-s.
"Now ask yourself. If he is making that kind of money, does he give 2 f#@*ks if the company survives? No matter what happens, he is golden."
I guess that's why we still not heard anything on a growth strategy, all the managers just talk about cuts, down sizing, and internal tinkering to make things/and figures look good.
Until a growth strategy is updated, implemented, and communicated to staff on the floor this company is heading to its end.
Now ask yourself. If he is making that kind of money, does he give 2 f#@*ks if the company survives? No matter what happens, he is golden.
Of course he gets mad when you ask for raises. That is his money godda-mit. You people are there to serve him. Bow to him you worthless people. Bow to the king for letting you have something to do every day. And remember, if you displease his highness he could take it all away from you and keep even more for himself.
And he get's mad when employee's complain about a 4% increase with the inflation from our last raise was between 18% - 19% (So we are actually making a lot less in buying power.
I say F him!
Same old Same old - applies to most Wall Street CEO's
That's a cool $1.8million a month in the pay packet.
If you invested 1 months pay at 6% return that would give you $108 000 per year for the rest of your life.
So technically we got his salary for 30 days we could retire, no need to work, that's how good it is.
Swap any day, just for 30 days please.