GIS has had the highest negative growth in the industry the last two years. At the same time the board and our 2 leaders who just gave themselves a massive equity grant have increased Drumgoole's pay by $100k and massively increased his bonus percentage. He got the highest bonus this year in DXC for massive negative growth. Just because someone was a CIO and knows technology doesn't mean they can grow a business. #pay for performance.
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And the latest Q2 restructure- where the inept promote each other, don’t tell the others and simply move people to new roles. Great way to commence a mass exodus- which is clearly what they want… I’m over DXC well and truly- time to dust off the cv and leave!
The company is lost adrift without direction. It has no mission or purpose, and either thinks it doesn't need to compete or knows it can't. It's staffed by people like me who don't especially want another role. People who could do plenty more, but realised it gets you nowhere, so we've not given up.
It’s all bent, and has been for years but until someone steps up calls it out and/ or thinks the authorities will actually do something the practice will continue.
STOP your Bi--hing and change employers, you are not a slave.
How can they get away with, so many years of promising growth next year but all they can achieve is cuts and shrinkage.
False promises to employees and shareholders every year.
The only thing that grows is the inflated exec salaries for delivering losses.
After 32 quarters of results The An-l-ists must be stupid not to realize and accept the constant lies.
This was always a company built on the ideology of "execs come - loot - and take a golden parachute" with the board not doing anything. The victims are the customers (with inflated pricing and poor service) - investing public (with dwindling share price) and Ofcourse the employees (not all - remember some are past their prime , who dare apply outside and will not be hired anywhere and happily collecting salary).
Long live this Ponzi scheme.
In my opinion DXC will go down as the most corrupt company in IT Services. Look at what the CEO just did also. He would NEVER qualify for a C level role at any services firm but talked the board into granting him 44m in stock after issuing the worst guidance in 7 years.
And to keep the CFO on board he got 21m. And the. They put a ton of people in positions they are not qualified for and gave them stock and salaries they would never receive at a competitor. All this while making massive cuts to the workforce including people actually doing real work at customers. Unbelievable and the board just watches.
How is this not investigated? How does the CHRO sleep at night along with anyone who is in EC. Disgusting!!
2024 the reported figure was:
CEO: $9,666,663
Median: $26,553
Ratio: 364:1
but thats only for Raul, they paid Salvino another $19,821,384 making "CEO" pay $29,448,047 and a ratio of 1110:1...
2023: $20.3 million, median employee's $39,684, ratio 512:1
Notice how the reported median pay for employees is shrinking too!
Could be worse:
FY. CEO PAY MEDIAN EMPLOYEE PAY CEO PAY RATIO
2022 28,716,680 USD 31,294 USD 918:1
2021 21,733,120 USD 42,509 USD 511:1
2020 18,973,666 USD 41,602 USD 456:1
Santa, I found the CEO Pay ratio on page 87 of the proxy statement more interesting.
"The annual total compensation of the median employee was $28,711.
The total compensation of Mr. Fernandez, our CEO, was $16,737,748, the amount reported in the “Total” column of the Summary Compensation Table.
Accordingly, the ratio of the annual total compensation of our CEO to the annual total compensation of our median employee was 583:1"
The Board is desperate and has no idea what to do. They have been around to create all of this mess. All of the active shareholders sold out in q1 of the calendar year so there is no one left to hold leadership accountable….that is why the stock is way down. How else does a CEO and CFO who don't answer the specific questions of the analysts get a massive windfall. All they do is consulting speak on generalities. This leadership team has halved the stock price. The revolt within their leadership teams that is happening is that raul, howard and chris don't talk to clients to build the pipeline and when we need to win deals. Chris only talks to clients when raul goes with him and howard is howard.
If you want an instant depression then check the “proxi statement” and “the annual report to security holders” on https://investors.dxc.com/financials/sec-filings/default.aspx. Look at the “annual cash incentive plan” on page 60. There are 2 KPIS: the first delivers 200% bonus for 5% overachievement and the second one gives 200% bonus for 10% overachievement. Equally interesting: the bonus is activated at 90% of the targets achieved = underachievement. Interesting tables at page 74 and 75.
Chris had us set this years plan to be as low as possible so that he could negotiate a big negative growth expectation because his bonus is based on performance vs plan, not growth or adding value for the shareholders. This years plan is for big negative growth.
@az I'm very happy not to come in at all if they don't want me. A small matter of a pittance of a redundancy and we can call it a day. Meanwhile every days a holiday at DXC, they don't seem to notice or care what gets done, as long as you complete your timesheet and fill in a few status reports.
This guy implemented the time system for dxc. That shows his calibre.
Chris sent me a lovely email today telling me how everything was going according to plan and all I needed to do was take my holiday to make everything brilliant and finish strong.
I read it a few times and couldn't really work out what I was supposed to do other than take a holiday.
Its a little boys Network, and Friends and family. The top continue to cream off every $ fully knowing they cannot grow the company. And then they have fannies to tell the workers that the company needs to grow for pay raises. Total scam you get raises without growth and everyone needs growth for raises.
He is the biggest scammer.
It's long been irrelevant what you do in DXC. Your pay is totally based on how much your manager gets on with you and possibly how much they think they need to pay you to stop you just walking out the door. Although with an aging workforce, who've never felt that secure. It'll come as little surprise when one day they just quit.