So, this just happened. I just saw DXC’s public 2020 proxy report filed on US SEC…that shows you pay of a few highest paid executives at DXC. One thing is very clear, that there is no “focus on people” or may be focusing on people the wrong way, as in lay-offs. Basing on the total packages, the new executives, Sal, Mary (~$4M), Vinod ~$3M) made in the half of the year, since they came onboard with DXC in sep/oct…while laying off people in the name of cost optimization. “Focus on People” is a façade, to fill their own pockets, while having the “detailed people” slog like slaves for nothing. Mary’s made whopping $4M since she was hired in October last year!And she is paid higher than the business leaders! Are you JOKING! If this was not a farce, then I don’t know what is! And they want us to “speak up” so that our voice can be dumbed down by their people, hired from their last company? I can bet that the new leadership team, hired from their previous companies, are making at least a million or more per year package. I would like to ask one question from Sal and Mary. How do you sleep at night? Knowing fully well, that those who have been fired, aka,“laid off” worked hard and are struggling to make ends meet, during these hard covid times. How can you not see the plight of the “people”? Is it like, that the “poor are hungry”, so “feed them cake”? Are you so oblivious and so greedy?We thought the previous management was uncaring and harsh on us. But, oh boy, it’s the same old, or worse in new clothes!!! And apparently,there is nothing we can do.
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I was willing to give him the benefit of the doubt at first. He’s the same old a–hole as the last Mike. The company is now irredeemable. It’s over.
Wow, Mary has made over $4m in less than a year. Tell me that's not a bunch of grifters on a lucrative scam! It's like you've been burgled and the insurance company comes in to assess the monetary loss, and starts taking anything that's left.
See SEC https://csc.gcs-web.com/node/17636/html#rom920815_61 page 59 the EX-CEO fo FY2020 still got an Incentive Award of over 12 million dollars .
That's 122 people making 100K a year that could have been saved from furlough or RIff. Why would CEO that was replaced for the companies poor performance get an award that is 975% over his base income?
F the new Mike and all his bull c-ap he's for the employee's
I think the new DXC motto is - ‘If you don’t like it leave!’
Different Mike, same old story
See page 58 and forward https://csc.gcs-web.com/node/17631/html
What is the URL to this SEC filing that shows earnings for the directors ?
I came from EDS. Tina Sivinski, the head of HR & Benefits, received $18 MILLION in severance after we were sold out to HP. First thing HP did was freeze our pensions, then cut our pay (not that I make a lot anyway), and we lost the last perk we had - getting the same holidays that our client had for their own employees.
All of these executives talk a good story, but it's BS. They look for easy fixes to improve margins, and that is usually accomplished by laying off employees and forcing those remaining to take up the slack. They run companies into the ground, make short-term targeted numbers to get their bonuses, and get a golden parachute when the company is ruined.
I keep beating this same drum; and I usually receive plenty of downvotes.
But you MUST wake up and realize this is the new corporate norm. Executives are not here to produce a product, provide a service, or employ the huddled masses. They are here to skim whatever assets they can off the collateral of a previously-successful company. PERIOD.
Two decades ago, the top 1% owned less than 20% of US assets. Today they own over 55%. This is how that happens. And this is what is taught in all of the prominent business colleges... how to skim the wealth earned by previous generations and transfer it to yourself.
Cynical? Absolutely. Accurate? 100%. So go ahead and flame away. Pretend this is not true. But the sooner you acknowledge this new “norm”, the better prepared you will be to drive your own success instead of succumbing your talent and wealth to these parasites.