As if working for DXC wasn't already bad enough recently, the employees who are still left now have the fun of new owners & the inevitable shake up that always brings.
BPO and IT services multi-national DXC Technology has confirmed it is in contact with a "financial sponsor" that is interested in buying the business, amid indications that Baring Private Equity Asia is the suitor. DXC Technology was created in 2017 when CSC and Hewlett Packard Enterprise merged, but the combined scale has …
Management also freely admit they have no idea what type of journey this transformation entails, which direction it is going in, or even if there is a destination at the end of it all.
But they are focused on it. Really, really focused on it.
And if a private equity company want to bung us a few billion dollars to join us for the ride, then who are we to argue, they are more than welcome come along!
Joke icon, because who the hell would even consider buying that company?
So, now the wheels have come off because of the way things have been run, then perhaps to "maximize shareholder value", you need to change something different, like, oh, I don't know the management approach / management team or something like that.
We'll all stand around with popcorn and see what happens next as everyone likes a bonfire.
I bet Mr Hewlett and Mr Packard are spinning in their graves with what's happened to date. Such a shame from what used to be a good company but got sucked into so much greed. Well, I hope you are happy with what you got.
Hewlett Packard Inc (hp.com) and Hewlett Packard Enterprise (HPE) are doing fine thankyouverymuch. The article is incorrect or at least misleading in that the only part of HPE that was merged with CSC to form DXC was it's BPO/Outsourcing business that it acquired about 10 years ago when it purchased EDS. So DXC is actually more a creation of EDS and CSC. HPE correctly spotted that the BPO/Outsourcing model was being massively disrupted by the cloud hyperscalers and got out of that business by selling it off. They continue to sell datacentre infrastructure (servers, storage, networking) quite successfully today, while HP continue to sell consumer compute products (desktops, laptops, printers).
I'm not going to argue with you though about DXC being a basket case.
Looks like CEO Salvino and the exec team are heading for a big payday. They will be awarded huge bonuses for setting up the sale and hanging around to manage the transition to the new company. After all someone has to do the heavy lifting! As for the regular employees, unfortunately there won't be any free cash available for raises or bonuses this year. Sorry about that, maybe next year, or the year after that. But at least you will get lots a thank you emails for your hard work and keeping your customers happy during the transition. Nothing feels better than getting a heart warming thank you from the CEO as he's heading out the door with his millions.