"Going forward, we will utilize restructuring only to accomplish our facilities' rightsizing efforts as they are non-operational. This labor restructuring started when DXC was formed and has gone on far too long." - Ken Sharp
Gone on too long Ken? You should see it from the ground mate.
Share buy backs boost eps (less shares, more earnings per share).
Eps targets are what trigger exec payouts.
Anyone spot the flaw in this model...
That 18.2% decline means Micke gets 18.2% more shares to make up his amount, so he will get more shares to make up his millions pay amount.
Then he goes and does another $1 billion buyback to raise the share price.
So his win, win, the guy is a genius, he never loses whichever side you flip the coin.
The rest of you get nothing and he can get $$$$$$$ right in front of you and tell you where to go.
You have to give it to him, the guy is dude, he can make money even when the company sinks, his on top with a lifeboat and Mary.
DXC shares have declined 18.2% in the past year, as the S&P 500 index SPX has gained 6%
So great more moving software, equipment, storage etc from 1 DC to another in aRUSH. Then layoff all the people who made it possible at the old site, just wonderful.
Waste time on the move , when we could be helping our clients save money
If DXC products were so great, they could implement their products internally for massive cost savings.
But having left long ago, I'm guessing the internal systems still have separate CSC & HP systems, people, and process. And if that is the case, DXC remains as a stinking pile of p-o that can't fix itself or its customers.
The Salvino Translator;
"Laser-focused" = DXC is still my own personal ATM.
"Point of inflection" = The large pole we are sticking up the arses of each and every employee.
"Essential Evolution" = Dumping the C-Suite staff that think Mary and I are stealing too much cash each quarter.
"Organic Revenue" = Cooking the books.
"Capital returned to shareholders" = I'm a HUGE shareholder.
"Portfolio Shaping" = renaming and combining the junk service we provide to fool the customers.
"Increase Employee Engagement" = Bwahahahahaaa!
"Improved, Increased, Expanded, Executed, Achieved, Exceeded, Remediated, Solidify, Stabilized" = Words I copied from my freshman BUS101 textbook.
"Build Financial Foundation" = Of my personal cash reserves.
"Transformation Journey" = The "gift" that keeps on giving. I have all the analysts happy with this one.
"Performance" = I should win an OSCAR for all lies I spew!. I DO perform! (bows)
"No meaningful customer terminations" = They're bailing like flies from a swatter.
Ken Sharp https://www1.salary.com/Kenneth-P-Sharp-Salary-Bonus-Stock-Options-for-DXC-TECHNOLOGY-CO.html didn’t do so bad
$722,436
Base Pay
$577,500
Bonus + Non-EquityIncentive Comp
$1,299,936
Total Cash Comp
$4,908,371
Stock Award Value
$0
Option Award Value
$4,908,371
Total Equity
$10,692
Total Other
$6,218,999
Total Compensation
Ken is ok. Ask Mike and new boy why the split in management reporting to gbs vs infrastructure?? Clearly planning to split/sell the 2 parts. Who will get a retention bonus whilst the chaos commences?
The market is living the 1 billion buy back and the stock is down 10% YTD. Who cares what the stock
price is , customers care about services and employee’s care about getting pay increases !
S T R I K E!
You guys can say whatever you like, but the market is loving the strategy, share prices have gone up. So please get back to work and concentrate on your delivering excellence to your customer.
One thing is blatantly obvious to anyone who thinks about this for more than 5 seconds.
DXC reported a loss. So more cost cutting is required. There are many cost levers in business, but Mikey only knows one of them: staff. I think on the back of this set of results we can expect more layoffs to be announced within the next month. So more cuts to delivery teams, leading to more unhappy clients, leading to a bigger lost next year. Then the cycle will continue until there are no clients left, and DXC needs no staff. Don't worry though, Mikey & Finchy will have made enough to retire to Florida and live happily ever after. Shame about the staff and the clients, but Mikey & Finchy don't care.
But then Micky goes on another part to says his now got a senior management team in place who are razor sharp at further cost cutting.
5 years of cuts and more to go, when is this so called growth plan kicking in?
Sounds like the left hand doesn't know what the right hand is doing or Kenny was no longer part of the gang and is leaving for "Personal reasons"