Saturday, 15 October 2011
CSC Denmark Heading For Disaster
>CSC (Denmark) heading for disaster?
That is the headline of the Danish Computerworld publication of October 14th, describing CSC Denmark's financial situation as "disastrous" with an accumulated deficit of over US $65million, a solvency ratio below 3% and no profits for the past 5 years.
The article also refers to a rift between the management and the employees, the recent strike action and the alleged accounting irregularities. Additionally the flagship Tax and Customs project is in big trouble with a government official saying that CSC is wilfully hiding the true state of the project from the customer, Shades of CSC's failed NHS project in the UK??.
The full Computerworld article can be found on:
CSC could take away the concerns about the financial viability of their Denmark operation by simply injecting fresh capital. So why are they not doing this? Are they not prepared to stand behind their Danish subsidiary and guarantee its viability?
To misquote Marcellus in Shakespeare's Hamlet "Something seems rotten in the state of CSC Denmark".
Posted by Busy Bee at 19:55