Thread regarding DXC Technology layoffs

Mikey said he would stop the layoffs but he just cut off 80% of the budget for severance packages, layoff targets are still there. As people rated 4 "does not meet expectations" during the last performance review cycle are gone local management is now targeting people rated 3 "meet expectations" and assign them personal improvement plans to fire them at next quarter end. Delivery teams have become so crippled by "redundancies" and management by terror that serious production incidents now regularly happen.

Don't forget to do your ethics training, otherwise you'll end up like the greedy, unscrupulous, unethical baskets at the top.

"made a habit of massively beating Wall Street's earnings estimates"

I've never understood this, DXC kept releasing results comparing the results of DXC against CSC no wonder a company twice the size was reporting better results especially when propped up by the buybacks and redundancies. May 2018 comes around, first time DXC results are compared to DXC results and the decline starts.

Only regret I have is not taking the VR money and using it to short DXC shares this time last year!

Without the technical staff the company is stuffed. It doesn't matter how many managers you have, the technical staff are keeping this company going.

The technical staff cannot just be offshored or replaced with anyone. These are highly skilled people with experience. To the otherwise would be damaging to the future of the company.

I agree, to make such deep cuts to expand margins, while senior management were handsomely rewarded isn't right. Senior management should be on work force reduction when aiming to generate the best future cost cutting!

@WoyiT0m-igi - 3 wheelers are called tuk tuk in Asia and lots of them run there !

@ -fdm " No scruples, no morals just pure unadulterated greed." agreed

....but this is what globalisation and capitalism is all about

P!$$ poor for the client/customers and staff alike only winners are the suits at the top and the suits on commission

Most big co.s are the same - people just want cheap

Mikey has not finished decimating this company yet but him and his McKinsey bum boys will be long gone when it finally goes under. No scruples, no morals just pure unadulterated greed.

This is what pisses me off the most. "made a habit of massively beating Wall Street's earnings estimates,"

ML made bank on our backs month over month, cut so deep we are failing, and has to double down. He over achieved on cuts, and them promised to accelerate.

Madness.

And the walls came tumbling down.

Can’t disagree. 19% sales fall yr in yr isn’t sustainable either. 160,000 bodies has been quite lot of fuel to burn through to keep the smoke and mirrors going, but what fools would consider investing in this 3 wheeler now?