One would think that after the last shareholders call the CEO of the company would speak to the employees…but no, not this guy. It can’t even be bothered. Worse CEO ever.
14 replies (most recent on top)
Chuckee’s back.
: @3wch+1oamRPbK - " There is no DXC spend involved here... " umm there is... DXC needs to find the grunts to do the work for the GBS clients, pay their wages and their perks like Pensions, etc - so there is a Spend / cost involved.
Mikey's 1-2 solution launch more WFR of experienced staff, fire and rehire college grads = less overhead but likely a worse service for the client.
re: GBS comment
I made the earlier comment. I meant the GBS spend is discretionary by the client as its project work. The client in economic downturns typically scales back or even halts project spend and GBS is susceptible to that, as are all professional services organizations. The global economic climate is not looking great so there is a risk of that happening. DXC GBS revenue is already shrinking (but nowhere near GIS revenue).
Disagree regarding GBS, there is nothing discretionary about GBS spend.
90%+ of the work is funding directly by the client and in most cases its working alongside the client. There is no DXC spend involved here. Overheard is 100% on the client, unless of course the projects dry up, which they dont appear to be.
Mikey is sitting around waiting for his colonoscopy results as the Board tries to figure out if they still want this A-hole running the company after the butt f'ing he took during the latest analyst call.
They should replace him before the next call as the analysts, investors, and 130k employees no longer believe his lies and have 0% confidence in him or the rest of the incompetent leadership team at DXC.
and a final comment, this time on the ridiculous focus on "organic growth" ie trying to cherry-pick any good bits from the results.
The analogy is imagine you are back in high school and you just got 45/100 in a major Math exam. You came bottom in the class, and the class average was 70% so you cannot blame a "hard" exam.
The spin you put on the result to your obviously disappointed parents is that "hey I got 4/5 and 7/10 in these questions" while overlooking the 0/5 and 1/10 in other areas where you had no idea what you were doing.
Now replace you with Mikey2, your Math exam with DXC quarterly results, and your disappointed parents with the disappointed analysts and shareholders and you get the picture.
well you can assume that when they looked at the GIS figures they will have known GIS revenue is largely tied to long term recurring contracts. These usually last a minimum of 3 years (or at least 3 years between each option for the client to terminate). So over every 36 months most of the GIS revenue gets recycled.
Monthly that is about 2.8% of all revenue. So in a 3 month quarter if NO new business was won and ALL the renewals were lost you would have a revenue decline of 3 x 2.8 = 8.4%, which should be worse case scenario.
GIS is declining at > 10% a quarter and has been for some time. That means they are winning nothing new and failing to keep practically every contract, and are even losing contracts early (termination for failure to deliver etc)
GBS meantime is much more project focused so you have to re-win business to make up for the end of the (usually shorter term) existing engagements. GBS also continues to decline albeit for now more slowly BUT its more a risk because this is the IT department discretionary spend so in an economic downturn this is the first thing to be delayed/cut/reduced.
DXC financially is not in a good place.
@1saw+1oamRPbK - Where did all the cronies assemble for the meeting? Was it in camp devid?
Can the fly on the wall, care to update us all?
They need to sell to companies who aren't aware of the DXCs lowest morale, or for existing customers they can keep doing AT&T type deals where DXC end up paying to to run their services.
The earlier comment has it spot on I think. The industry however knows DXC is dead on its feet and there is no longer any need to buy the company, its clients can simply be picked off at contract renewal which is exactly what is happening. There will not be a third $10B bid to buy the company.
In a last desperate attempt to slow the revenue decline Mikey2 is now literally buying business like AT&T at a significant loss - it will only delay the inevitable but I don't think the current exec team are planning much beyond a quarter or two.
Whilst I agree with your implied bitterness over Mr Slavino (and no doubt his predecessor), the OP should be careful. In the limit this site will delete your posts and block you if your comments are overtly offensive.
A measure of anger and frustration is totally understandable, but my view is we need to shame and embarrass these despots with humor as much as facts, such that they appreciate many people really despise them, and more importantly why.
Karma is a bi--h, and over time I'm sure it will come back to bite them. Something unpleasant will happen to them, or people they really care for, directly or otherwise.
One can but hope their conscience will then appreciate the pain and suffering they've caused to thousands of people through recent years.
@1gur+1oamRPbK Micky recently flew them all here for last Ditch party about the recent bad results.
All panic has broken out none of had a clue what to do except the usual take out
Until they can get some decent salesman who can sell times running out, most of them will go when the new guy is appointed.
They need to sell to companies who aren't aware of the DXCs lowest morale, or for existing customers they can keep doing AT&T type deals where DXC end up paying to to run thier services.
I'm confident Shouty is history soon.
He’s chairman of the board and CEOand won’t be replaced ti the company is sold
CEO lol his more of a team leader level if that.
Not fit for purpose If he cant speak with folks on a call.
The best you get is that he comes on here and gloats about his pay, holidays, yacht, and finchy.
A new CEO is desperately required quickly.