Can you believe Mr shouty says we take care of our people! What a crock of 💩
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STRIKE!
The town hall site and number is not working. Has there been a change to access the meetings?
If you stay at DXC , then stop complaining.
I just love that Sal has tried to make a positive message out of the company that he's been running for four years shrinking further, and making a massive loss. Surely he must realize by now that he's managed to utterly destroy DXC, and has no future as a leader either here or anywhere else??
Still, as long as he can take a few more million, and still has 'Finchy' to cut his steak for him, I guess he's happy. And when DXC finally collapses, he's earned enough to retire on. What's worse, he's such a narcissist that when he retires, he won't care about the company he's destroyed, the staff he's damaged, or the investors whose funds he has taken and put in his own bank account.
I like the way delusional Mike just says on the call "The first step is to inspire and take care of our colleagues" but doesn't say any more. If he actually thought that, then why did he cancel the employee survey? Will also make interesting reading of this years report in the UK, as the only comment on staff last year was the survey results increasing.
Revenue is NOT down per Se, but it shows as down because the Exec have been syphoning the revenue on the quiet all the time and only declaring their unwarranted bonuses at the end of the financial year.
and selective highlighting, just 2 offering areas saw higher revenue compared to Q4 FY22. A&E (up $29M) and Insurance (up $5M). Drowned out somewhat by the boat anchors - Cloud&ITO (down $209M) Modern Workplace (down $50M) Applications (down $41M) and Security (down $7M)
love the denial of reality (or in ChatGPT terms should we call it hallucinations) we got including this gem from Mikey
"GBS is a great example. Our A&E, along with our insurance offerings have been the main reason we have driven consistent growth in GBS for eight straight quarters"
and the reality? GBS shrank 7.5% in the past year, and shrank 8.4% the year before and 8.9% the year before that, so that's at least 12 quarters of shrinking - if the shrinking continues its slow reduction then in 11-12 YEARS time it will stop shrinking, so no growth on that horizon.
Also like the statement that GBS is a growing part of DXC revenue. That's true BECAUSE GIS IS SHRINKING EVEN FASTER at 13+% a year
Got to love these fantasy interpretations of financial data
and so the Q4 results come out and are the expected train wreck.
Q4 revenue drops 10.4% (there goes another $500M reduction a quarter in revenue) and 11.3% for full year (woops just lost another $2B there)
GBS that is meant to be the future shrinks 7.5% while the lost cause that is GIS goes down 13% for the quarter and 13.8% for the year
Now the future guidance for FY24 is no longer growth but just about staying the same but with further shrinkage in Q1
To mitigate the inevitable share price drop another $1B will be wasted buying back shares, meaning more than three quarters of DXC market cap will be the money wasted buying shares - no investors are foolish enough to waster their money
Q1 FY24 was always the crunch point for Mikey - another drop, especially a large one, in revenue and he's gone ...
Constipation of the institution and confusion of the constitution of the evolution of the distribution of the conclusion of the diffusion of the collusion of the pr---------n of the retribution seclusion of the evolution of the essential.
When he said “we take care of staff” he meant it in a Sopranos way,
A $21B company now making less than a sixth of its original revenue in just 4 yrs…and he guy is still in charge. Wtf.
What a load of bollocks!
These are the official proof points from the earnings call presentation of how they "Inspire and Take Care ofOur Colleagues"
FY23 Proof Points:
• We have done a good job changing the culture of DXC
• Our team is executing, and we continue to add to it with strong industry talent
What the actual fu-k! There is no culture. You've got a bunch of clueless early careers types who post nonsense on Workplace in the misguided belief that means DXC is a good place to work. Those leaders of the new operating model should grow a pair and tell clueless and Mary the truth, DXC has tens of thousands of pi---d off employees fed up of the leaders stealing from them, sorry I mean announcing another $1 billion share buy back, which benefits no one and nothing apart from the obscenely over rewarded execs.
He bought AI, another crock. It’s scripting not AI
That 1 billion can give each and every employee $7692.30769231 pay increase
Now they want to repurchase another 1 billion in shares, but they have no money for pay increases. Like the original post this is💩
Dam voice to text
Now they want to repurchase another 1 billion in shares, but they have no memory for pay increases. Like tbe original post this is💩