DXC hit with sueball over layoff steamroller's share price dip El Reg's revelations of layoffs at DXC Technologies over the last year were mentioned as US lawyers attempt to launch a class-action lawsuit against the slash-happy tech biz. US law firm Robbins Geller has been looking for a lead plaintiff in a class-action suit it wants to bring against DXC, which was formed out of a merger …
El Reg,
If you read the actual court papers that you linked, you'd see the institutional investor "City of Warren Police and Fire Retirement System" is named as the plaintiff in the Robbins Geller filing.
If you take a wider look (https://finance.yahoo.com/quote/DXC), you'll see Shark, Shark and Shark Lawyers and friends have also offered to open a case, but only this lot you mention have got a lead plaintiff (which is needed in a class action)
Had investors been reading The Register, they'd have known that 2018 was DXC's Year of the Layoff (part 2), with execs and ordinary working folk being dropped like hot dog turds.
I suggest El Reg substitute "steaming" for "hot" in contexts that shouldn't invoke food imagery.
Oddly, I was also contemplating this construct.
Was the turd hot, or the dog. If the dog was hot, was it in a bun? Do baseball park hotdogs make turds? If the turd was hot, was it because the dog was ill? If you've a handful of sick dog turds that are over warm, is it because you are taking the dog to the vet for medical attention? Why then would you drop them?
-- Yeah, I'm having one of those weird weird days. I suspect I've swapped meds with someone in the house........
FWIW, I read "hot dog turds" as fresh canine fecal matter and not as "hotdog turds." The extra whitespace really makes a lot of difference.
For the record, yes, I am an American, so I don't have that excuse. Or maybe I do have that excuse? Damn. I always forget what that excuses me from.
When I was working in this madhouse they sent all the sales guys home and tried to make a salesperson out of me.
I am no jack of all trades. I know my trade very well, and it is not Sales, so I told them to show me the money instead.
Any investor, or customer, that lose their shirt with these guys, deserves all they got.
Ever heard of the concept of due diligence?
Ever heard of the concept of due diligence?
What's that got to do with the US tradition of meritless legal actions and potentially punitive settlements?
I think most of use would agree that DXC is a basket case with a rubbish business model, and few of us will care when the company finally disappears (although 134,000 people might hold differing views), but this case isn't about the business model
And even whilst made out to be so, the case isn't about failure to disclose a material event to the stock market. All we're seeing here is simple opportunism by lawyers, hoping for a generous and undeserved settlement, either out of court or in. In any country with a decent legal system, the case would be thrown out - the management are the agents of the shareholders, and for better or worse have followed a declared strategy. If that doesn't work out, that's the shareholder's problem because investing in stocks is a risk based investment. If the shareholders want guaranteed returns and preservation of their investment, they should have invested in US government bonds, and suffered the miserable returns they afford.
Ongoing lay-offs, never ending cost reductions, low share prices, no pay raises for many years... but there is always enough money to pay multi million dollar bonussus to the higher management.
Everyone that tried to change this sick culture is fired or asked to leave as they like to call it. We can only hope that these class actions make the shareholders realize that it’s time to change the tune at the top!
Been with DXC / CSC a few years as a consultant.
This place is pure chaos! every project you work on is delayed by at least 6 months, people are either leaving or made redundant. Every project i work on i get automatic replies saying this person or that person is no longer with the company. All the customers are truly cheesed off, work is outsourced to cheaper labour countries and the service is terrible as these outsourced teams have too much work piled onto them.
It is almost impossible to get expenses paid back, everything is urgent and thrown onto you last second, mangers are not replaced etc etc
I get told "ok today you are a specialist in this" without even knowing what the products are!
It is just crazy how they sell and promise work to customers which is why so many engineers etc just get stressed out and move on.
A day in the life is basically fighting your way through the internal systems to get access to resources, docs etc, which nobody seems to have any answers to, then getting access to accounts your supposed to be working on, in-fighting to get access as other teams are going through the same crap as you, and just as cheesed off and un-motivated.
I will be leaving very shortly, its going to mentally kill me to stay, its just not worth it, employees get stressed because they want to do right by the customer, and is often why they stay so long, but it is just utter chaos, nobody seems to be in control of anything.
The problem is there is one complete a*hole in charge and that's it. He is running the company into the ground. Folks are tired of it all and lots are leaving on their own accord. I guess the man got what he really wanted--staff reductions without having to pay a piddly severance penny.
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