Thread regarding DXC Technology layoffs

In other words, prior to Covid-19 DXC was on fire and sinking and the Covid-19 economic crash isn't going improve those chances of putting out the fires, preventing flooding and pumping out to right the ship.

Its not a surprise really and its not just DXC. Plenty of businesses will be sunk by the crash some of them just don't know it yet. You would have needed to have been either extremely buoyant (full of cash) or very lucky with regard to both suppliers and customers to escape unscathed unless your business was one of the critical services during the crash (eg PPE manufacturer, supermarket or pharma)

Its not 100% DXC's fault for the final fall, but it is DXC's fault that the company was in such a bad shape going into this. Or should I say its entirely the fault of the bare faced banditry of the previous CEO. Just imagine how it could have been different without it/him.

I was wondering if/when someone will ask the direct question of "isn't this entirely the fault of the previous CEO's utter failure?"

Yep stockmarket have worked out that they wont be able to grow the company so we are going back to Mike Lawrie.

Mike Sal kick the sales people we need to increase the order book ASAP.

Strategy Execution: On its most recent earnings call, DXC's CEO said revenue run-off due to suboptimal delivery and weakening customer relationships resulted in a loss of $1 billion in revenue in FY2020. The company has continued to reiterate good progress improving its standing with customers. However, the company expects a further $1 billion revenue loss FY21 due to customer terminations and price-downs. The company seems to be shifting back to a cost optimization stance from a previous stated focus on increasing appropriate investment in execution in order to ameliorate revenue declines. While DXC does not have a high share of consulting revenue that would likely be more discretionary in a reduced IT spend environment, the fact that the company has not performed to its sales targets going into a more challenging environment suggests that the company is now weakly positioned entering FY21, largely confirming that Fitch's prior expectation that DXC cannot stabilize its revenues over the near term.

DXC's report triggered an analyst downgrade from J.P. Morgan, which knocked down its rating to neutral, and reduced its price target from $25 to $17. J.P. Morgan now sees the turnaround taking longer than expected due to increased uncertainty.

Including Friday's rout, shares of DXC are now down about 75% from their 52-week high.

Decrease of costs in any cost = relates mostly to more WFR and if new Ceo gets it wrong means losing invaluable knowledge and expertise with services that DXC provides deteriorating

I saw the same article, sad but true. DXC is going down the drain.