The company has dropped below critical mass in the UK in terms of the workforce and ability to deliver the services to our clients. DXC has had to cut so deep to try and stay on top of the rising costs as our customers have deserted us. There is still value in some of the contracts, but the UK is no longer viable as a territory to DXC. Lawrie is almost certainly looking to sell off the remaining operations to a private equity firm or perhaps a competitor. The latest dramatic cuts are probably an effort to make the sc-aps look more attractive to a prospective buyer. It won't be long now...
16 replies (most recent on top)
i will offer to buy DXC and CXD for $1 each and my first task will be to WFR ML and the steak cutter.
Who would buy the business when they can pick it up (in a different shape) when the customers decide to shut the contracts down and go somewhere else? DXC has a bad reputation and it’s getting worse by the day so why take it on with all the baggage it comes with? If you haven’t been here that long and are at the beginning or middle of your working life then leave and find something else. Waiting for a package is a waste of your time and you will stagnate, plus your CV will lose its shine. It’s a buoyant market and there are plenty of jobs out there.
That is what I'm worried about. I know that globally DXC made a profit, but most of that came from Asia. The UK is in a bad way and it's a question of whether Lawrie will keep funding us or pull the plug and pay just the bare minimum.
@4mln I seriously doubt that DXC is running out of money - it made some $274m net profit in Q4 2019.
To answer your question, it depends what you mean by 'normal contractual redundancy terms'. The key word here is 'contractual'; if your redundancy terms are specified in your contract of employment (rare in DXC these days) then they would have to pay you according to those terms.
If however redundancy terms are not specified in your contract then any payment about statutory minimum is merely a company policy which is subject to be change. They COULD reduce redundancy payments to statutory minimum - it wouldn't be popular but it's exactly what IBM did a few years ago. Some were leaving IBM with 30+ years service with the maximum statutory payment - c. £15k.
Can they really stop paying us the normal contractual redundancy terms? If DXC is starting to run out of money then it may be the next thing to go! Statutory is capped at about £8k, whereas I know of several colleagues that have left recently with payoffs well in excess of £50k!
Why register CS entity in the UK where it made more sense to register CS entity in Switzerland (the company CS is Credit Suisse Group AG is a Swiss multinational investment bank) and only pay 8.5% corporation tax in Switzerland vs 19% in the UK
Well, it made The Register and DXC claims there's an simpler explanation:
https://www.theregister.co.uk/2019/07/01/dxc_registers_new_corporate_entity_world_meet_drum_roll_cxd_infrastructure_solutions/
Question is, do we believe the explanation?
It's made the news on UK Register....
https://www.theregister.co.uk/2019/07/01/dxc_registers_new_corporate_entity_world_meet_drum_roll_cxd_infrastructure_solutions/
Just sit back and see.....
Could be a further WFR removing more unwanted staff, 2 of the 4 sites closing and then remaining sites and as a minimum transfer min no of people to the CXD entity and then sell it off as a whole or in bits, e.g., dividing services / products down
Going to be very interesting to see what happens
See the other thread with re the creation of a new company entity...
CXD INFRASTRUCTURE SOLUTIONS U.K. LIMITED
somethings happening
"For example. lets say us DXC remainers were transferred to a UK private limited company which has lax regulations (remember it limited)"
You already work for one of a handful of ES/CSC limited companies. You don't work for DXC. DXC is the holding company above all of that.
The directors of those companies are various people from within the wider company, none of them will be ML.
That's standard multinational organisation btw...
Things are getting really bad now in respect of costs. If you want to spend even one pound on travel you need an RTA approved! The company is clearly worried about cashflow. I'm just concerned we're running out of money and that they won't be able to pay our wages soon! Apparently in the US staff are already working one day for free! (I bet Lawrie isn't one of them though)!
I see Mikey's plan is fast coming to fruition!
In less than 2 years DXC will be totally dead and Mikey will be stinking rich.
It's amazing how he gets away with it but I doubt he has any problems whatsoever getting to sleep.
True. I took VR gold and I am a happy blood pressure now normal kind of a guy... Screw dxc or whatever they become!
what worries me is DXC (uk) going bust.
Imagine staying in this sh*tshow and getting nothing, when you could have made a positive step of taking VR gold.
How likely is this scenario?
For example. lets say us DXC remainers were transferred to a UK private limited company which has lax regulations (remember it limited)
I would say its 100% likely that the new directors would milk ALL money out for themselves e.g. like Robert Maxwell / Philip Green have been accused of
What an absolute bl00dy shambles that maniac has produced. I, and several colleagues that have left that horible camp in the UK, are SO glad we ended our tenure there. I wouldn't go back for a gold clock. I just feel sad for the poor buggers that put in the hard work to try and keep the ship afloat. Really sad times here. ML, how do you sleep at night!