Thread regarding DXC Technology layoffs

The Revenue Decline Story

Legacy CSC was $16B when Mike Lawrie took over in 2012
In 5 years (by 2017) it came down to $8B or thereabouts, just halved.
Then came the merger with HPES and DXC was born , with a total revenue of $26B or thereabouts.
That has now come down to $14B in a space of 6 years.
So, about $20 B wiped off within a space of 10 years across both entities.

$20B is more than what is the GDP of some of the smaller European countries (Macedonia $13B, Moldova $13B, Albania $18B).

So, in the last one decade, CSC /DXC has wiped out money worth more than the GDP of some European countries. And yet, no sign of course correction and no hard questions/decisions from the Shareholders.

Just pause for a second and give this a thought.

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| 1481 views | | 5 replies (last August 3, 2023) | Reply
Post ID: @OP+1nVm1o3g

5 replies (most recent on top)

Mike may last another Q, but this is the end for him

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Post ID: @xxm+1nVm1o3g

Maybe no hard decisions from shareholders but with a pre-market price down 24% (barely above $20) it seems Mikey2 has lost the confidence of the market in exactly the same way Mikey1 did and after the same Q1 result period just 4 years later
Wonder if it will lead to the same Sept outcome ... anyone else called Mike in Accenture they are trying to offload?

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Post ID: @cpo+1nVm1o3g

https://www.reuters.com/technology/cognizant-projects-revenue-above-estimates-cfo-retire-2024-2023-08-02/

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Post ID: @gju+1nVm1o3g

My only hope is that they will announce WFR program in Europe. It is time to cash out and leave the sinking ship.

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Post ID: @lmi+1nVm1o3g

The senior execs are all in a Yacht in Europe cruzing in the Danube and planning for the turnaround next quarter.

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Post ID: @toc+1nVm1o3g

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