https://www.openpr.com/news/3934171/investors-in-dxc-technology-company-nyse-dxc-should-contact
4 replies (most recent on top)
How it makes any profit, keeps any clients and it's share price isn't $0 I do not know
Share price is a result of > $6B in share buybacks over the years, and with a market cap of around $3B that means even with those buybacks, DXC is only worth half of the buyback money and the rest of the share value is indeed $0.
DXC retains clients who still have a legacy systems that are not worth the risk moving to another service provider, better leave as is until they can eventually be turned off - hence the steady 10-15% decline in clients/revenue every year
DXC makes a small profit by not paying staff pay rises (now 40% behind market rates thanks to inflation) and milking the legacy systems / clients - this profit then spent on share buybacks and exec bonuses, absolutely zero investment in anything - even the internal IT is not complete or merged from the creation of DXC 8 years ago !
Total nothing burger these are just greedy law firms that are going to keep most of the money from the class action. Investors will see very little $$$ and employees won't see any change.
That’s old news, but good to see it’s still progressing. Law firms immediately started working on lawsuits after the first quarterly meeting that the current CEO (RF) held. He made a comment that the internal companies and systems still weren’t integrated after former CEO said that would be done by then. RF said DXC would have even more transition expense (TSI) in its future when analysts were expecting it to be done so many years in. Basically current CEO threw the old CEO and his staff under the bus and claimed ignorance, even though he was a long term board member. Some big investors went ballistic and the lawyers started circling, saying the DXC exec have not been transparent and has mislead investors. What’s new? What are we 8 years in and it’s still not transitioned? DXC should be suing its own internal IT and IT execs.
They should just read this sites posting to know what a bag of sh--e most employees think the company is. How it makes any profit, keeps any clients and it's share price isn't $0 I do not know.