Does anyone have any guesses how long DXC is going to last before the executive’s strip whatever they can from the company like parting bonuses, golden parachutes, and make a deal to sell it off or combine it with some Indian lower tier company…Could this be the plan from the very beginning? Just seems like it is the writing on the wall.
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Laid off from DXC end of August 2017. Thank goodness I was just 3 months from getting Medicare. Wasted no time in moving my 401K to a rollover IRA. Hopefully my CSC pension has some protection since it was participatory. 19+ years with CSC.
Mikey may as as well call it quits and join his mate Nick Wilson at Microfocus (the name is very apt and says it says it all). Mikey is solely focussed on getting rid of expensive, experienced hard-working and decent old fogies (excluding himself) and hoping that the DXC shareholders are kept at bay till he retires.
DXC is the physical embodiment of the living dead fantasies. Mikey can cut, turn, and burn, but he can't do anything with the public sector accounts that keep many regions profitable. He may have lost USPS, but if he loses UKPS he will have a huge hole that will sink his ship.
At least 10 years, it will take that long to migrate customers to another companies.
Big money is made in dividing up and consolidating companies. Bankers, advisors, management consultants, and the executives of the companies. Muddies the accounting so that it is impossible to determine if there is profitable business underneath. Presents to Wall Street the appearance of action without actually doing anything.
DXC was dead the day it was launched. It just hasn’t laid down yet. But the body bag will be zipped shut very soon.
My guess is that once 2020 is here and that second $1b in labour, estates and other asset stripping is done, then Mikey will retire. I mean what is the point of staying once all the grain has gone?
1 to 2 years
Yes IBM Services is my best bet for the newest attraction at the dinosaur zoo.
As I said earlier, curating failed IT services is a good niche for Mikey. You just need to be a merciless psychopath with a hunger for limitless pocket filling and he's got those qualities in droves.
Big Blue is long overdue the Mike Lawrie treatment. Look what a state they are in. They could be next (or at least all the cr@p bits that they don't want - just like the HPES acquisition)! :-)
"My money is on that in 2020 another huge reverse spin merger happens and DXC gains another monolithic IT services dinosaur to add to the dinosaur zoo,"
A bit like a scene from Highlander - "There can be only one!" ..............chop
@v1s may well be right. With a market cap of c. $29bn DXC is still too big a chunk for anyone to swallow. Two possible scenarios; first, as per @v1s' post. Second, a long slow decline over a few years until what's left is picked by one of the Indian outsourcers.
@TxkQZgD-yom he did have money for salary increases.... his salary increases and he's got a large one every year since.
I was in CSC when Mikey took over. I remember the first ever video he posted on the corporate web site where he stated 2 things: (1) I am not here to break up this company and sell it and (2) I have money put aside for salary increases.
What a crock that turned out to be?
When Mikey was running CSC it looked like that was exactly what he was going to do.... but even just CSC minus NPS (CSC's USPS) was too big a chunk for anyone to swallow.
They did try and dump it (HCL I believe was the target) and definitely positioned Indian faces in key global positions to ease that deal, but it didn't happen.
Then we saw the DXC deal, which I think gives Mikey a new model - acquire other people's burning sh1te and add it to the pile for asset stripping. A sort of IT Services Microfocus, where outsourced contracts go to die.
My money is on that in 2020 another huge reverse spin merger happens and DXC gains another monolithic IT services dinosaur to add to the dinosaur zoo,
who knows it may end up with GuideIT
https://www.guideit.com/press-releases/2015/1/27/perot-mark-return-to-it-services
Agreed. Although I don’t understand why they kept the government healthcare business Can’t be sold to Indian company.