If you have any sense, try and get WFR as soon as you can.
Never use a billable WFR, gossip like crazy, slag off your european bosses and cause problems for your immediate peers.
Its the only the way out
14 replies (most recent on top)
We had a call with Jennifer Racoon the hr head honcho and we were told that all Retirement packages will be honoured and in fact there is a decision waiting for board approval to increase package by 12 per cent.
Even on minimum terms, anyone with 20 years in the UK would get an after tax equivalent of 12 months pay.
Anyone with with up to 5 years should have left by now
Its sort of not relevant right now. The companies Finances won't be in a dire state untill the buisness start burning cash and despite everything they need to loose a lot more buisness for that to happen.
Speak for yourself, not my Ts &Cs, also not the offer made by DXC more than once (DXC said yes, I said yes, business said no) so "custom & practice" too if they start playing silly buggers. I'll stick with my year's pay thanks.
https://www.gov.uk/calculate-your-redundancy-pay
DXC caps at the statutory 20 years formula, but not salary. However, unless you earn significantly more than £36,400 you won't get a fat lot extra. I think it work out as £4k for anyone over 41 earning £50k. So I won't worry too much as I don't earn that much. If I was that desperate. I'd have left long ago for a job that pays properly.
If DXC goes bust then the direct creditors ( vendors ) likely to be paid out with the staff may be migrating to the companies that take on the scraps; the ones that get WFR out likely to get the tail end scraps - with no guarantee of a good P45 / Redundancy deal.
Statutory terms are lot less than DXC terms.
Obviously not as fri**ing stupid as you.
https://www.citizensadvice.org.uk/work/pay/getting-paid-if-your-employer-goes-out-of-business-or-disappears/
if the company goes out of business, you don’t get any redundancy. It’s pretty simple. How friggin stupid are you people?
Tbf a lot of the $25 revenue was deliberately got rid of by selling big chunks of what initially was dxc.
They sold several large chunks off including fed sector and healthcare which accounted for quite a lot of revenue.
Apparently dxc is starting up federal business again now...
Dan Grey and drummer will steer the ship
@c1+1jpfa83rk Is spot on. We can complain all we want but this has been the trajectory since the beginning. It takes a long time to go from nearly $25 billion in revenue (2017) with long term contracts , down to about $5 B. They will likely buy back so much stock that they can take it private. If nobody buys it before then that’s very likely. Then they won’t have as many investors they have to answer to.
DXC while in terminal decline (it has been since the day it was founded 8 years ago next month) is not about to go out of business, it still manages to largely keep a positive cash flow and so will survive - probably for 5+ more years but each year getting smaller and smaller and less and less relevant, propping itself up with share buybacks (using the small positive cash flow) to justify paying ridiculous exec bonuses each year - and continuing to reject buyouts offering 2-3x the market value of the company (as it has already done 3 times already)
The ship sank already! Those left are hanging on, hoping to get one more months salary whilst doing as little as possible. It's quite likely we'll end up having worked a month for free at the end. So least if you don't feel you did anything in that time it's some consolation. Everyone who "needs" a job has gone already.