Wednesday, 15 July 2015

Them that's got shall have,............a whole lot more



This very pertinent comment has been given its own posting in order to highlight the crucial points it makes.

Anonymous has left a new comment on your post "Progress Report":

While we are "discussing" whether or not we will be getting an almost zero salary increase and/or bonus, the Proxy Statement for this year's Stockholders Annual Meeting reveals some interesting numbers. Here are the total FY2015 compensation numbers for the 6 members of the CSC Executive Committee...

J. Michael Lawrie $15,353,880
Paul N. Saleh $4,492,392
Romil Bahl $5,304,472
Ashish Mahadwar $4,283,596
James R. Smith $3,047,853
Gary M. Budzinski $3,369,514

That's $36 Million split between 6 individuals. That is truly obscene when the workers are slaving away for a measly $500 - 1,000 annual salary increase or a $1,000 or $2,000 bonus.


My measly few hundred shares of CSC stock voted NO to reelecting ALL of the existing Board of Directors and an EMPHATIC NO to the 2016 proposed compensation which will get them even MORE.

75 comments:

Anonymous said...

Annual salary increases? Not in North America....at least that's the line I am hearing.

Anonymous said...

Parasites.

Say we make 30 percent margin.

That represents circa 50 million dollars from clients.... that is before paying people who actually do the work.

Anonymous said...

Mega payout for the top for under performance va the S&P. This from CSC's own report.
Indexed Return Chart (2010 = 100)
Return 2011 Return 2012 Return 2013 Return 2014 Return 2015 CAGR
CSC common stock -7.61% - 37.74% 68.31% 24.35% 10.04% 5.79%
S&P 500 Index 15.36% 8.00% 13.96% 20.88% 13.59% 14.28%
S&P North American Technology
Services Index 18.49% 15.36% 18.02% 22.38% 20.53% 18.93%

Anonymous said...

The return is more like 6% which means $250million of revenue is needed to pay the exec bill.

Anonymous said...

That comment is a bit hard to decipher. I take from it that CSC Return has had compound growth of 6% against the S&P's 19%
Way to go Mike.

Anonymous said...

fyi, North America and Australia regions are officially getting no raises this year

Anonymous said...

15:37 - Can you offer information as to the basis of your statement that "North America and Australia regions are officially getting no raises this year"? I have seen nothing officially published by HR (not that they would - they don't want to open themselves up for lawsuits) - but where is this coming from? Rumor mill, official/non-official correspondence/discussions with management?

Personally, I would love to see something published officially - since a few months ago I was in a call with some senior team managers in which the Indian managers were asking when they were going to get their bonuses. Of course, it only applied to the Indian managers I am sure. It wasn't raises - but bonus related, but it still shows a huge difference in how Indian resources are treated differently than US resources doing the same job.

And of course, we still see, just by the numbers provided above, that very senior managers are treated even MORE differently - even though they are in the US.

Anonymous said...

I'm a US employee and while I have seen anything in writing I have been in multiple meetings where the word has been passed on that there would be no raises for US workers. So not official in the sense that it has been put in writing - there's potential repercussions as noted in another post - but there's no doubt in my mind it is the policy nonetheless.

Anonymous said...

The whole pay raises and bonuses thing has been smoke and mirrors for years.

While some places, the UK for example, did away with bonuses several years ago (anything except management of course, but they didn't mention that) because of "global policy" this was never true as many other countries kept it and kept paying very decent bonuses to all employees.

The same with pay raises too - a series of lies to try and persuade people that everyone was in the same boat.

From what I know, UK&I handed out their first raises in almost 5 years this year and northern and central Europe gave out no raises this year despite having always done previously. They did apparently give out an increased pension contribution instead of a fair size.

I'm not quite sure where such matters are decided, but its probably at a regional/country level these days - albeit with an almost certain approval requirement from FC.

Anonymous said...

Whilst I agree that those clowns are parasites, the analysis about margins on customer billing to pay for them is a bit of a false one - the margin is what it is after taking out all of the costs of running the business.

To look at in the simple way you describe is akin to Mikey and friends just looking at everyone else as a pay figure on a spreadsheet with no other worth... oh hang on...

It would be a lovely thing to look at cost savings by axing levels 1-4 and re-hiring from the dole queue (and see if the business actually does any worse...) but whoever you put in those shoes will always end up feeding their fat faces from the trough in the same way as a banana republic dictator builds marble palaces.

Anonymous said...

>> It would be a lovely thing to look at cost savings by axing levels 1-4 and re-hiring from the dole queue

Or offshore 1-4 to India/Bulgaria/Vietnam. Their own offshoring/rightshoring/cost-saving mantra has been liberally applied to 5-8. Similar benefits should arise from applying the principles to 1-4.

Turkeys and christmas springs to mind.

Anonymous said...

I think you might find senior management "offshored" quite soon actually... once the NPS split is done in October (sorry "CSC Government Services" - I hope they didn't spend too much money on marketing experts to come up with that one) rumour has it the commercial bit gets dumped on an Indian company...

Anonymous said...

Guys (and gals) - get out now on your terms. You are all competent, well educated / trained, have a wealth of experience that any other good employer would value.

The inequities that are being played out every day are not out of your control. Believe in yourselves and take that first step.

List all the things that you have done for CSC - the projects, tasks, things you have learned on your own time, the commitments to deliver excellent results to your clients. Use all that information to begin building your resumes - do it now. Don't reply to this comment - instead take the time to begin listing the good stuff you have done for CSC - write it down and make that the basis for the story you're going to tell on your first interview.

Look at what 18:58 is saying down below this post....by staying with CSC, you are enabling that kind of behavior - think of it... if you had a loved one who had an addiction, would you keep loaning them money? We all know where that would lead to...

I left CSC a while back and still have a number of close friends who are still slogging along through the BS that you speak of. I know they are all looking and getting ready to bail at the first opportunity - you can do the same,

Start now - today.

Anonymous said...

Really not so sure about the 'No Raises' for US workers notion. I did receive a raise and others on my contract likewise. True, the increase was modest but it was an increase nevertheless. Maybe the raise issue has high variability and the company was unable to issue an across the board statement one way or the other.
Clearly, there are other issues and realities eroding this company.

Frances Warren said...
This comment has been removed by the author.
Anonymous said...

I am in Australia and was told by my manager that "there is no budget for merit increases this year". Whether that means there is no budget for ANY increases was not made clear.

Anonymous said...

'Inequality for all' explains how vampires steal our salaries. Why are we so passive?

Anonymous said...

23:39... Explain what you would do to fight the passiveness. Also please provide insight as to where in the world you are located/working for CSC.

I can only explain from my personal viewpoint and from my location. In the US, we are not protected by a union or a contract. We can be passive or we can "hit the bricks". Those are our two choices.

Some DO choose to vote with their feet. Others can not because they simply can not afford to do so. In some cases - money made, while miserable is better than no money at all.

If we vote with our feet, we are replaced my legions of Indian resources. And it is not just CSC that is doing that. Other places we COULD go to in the past, are now full of Indian resources or others from "low cost" centers. So it is not like we can walk across the street and pick up another job.

As long as the US Government allows US companies to take huge tax breaks, while offshoring thousands of US jobs - the trend will continue. I am lucky enough to be close enough to retirement age that I can deal with it for a few more months. Who I feel sorry for are those in the mid 40s who have given CSC a dozen or even twenty plus years - only to be given the boot because it is cheaper to hire in people incapable of, or unwilling to do the job.

Anyone asking ME for career advice - that is thinking about doing work in the IT sector - I tell them flat out - find something else. There is no future unless you live in a low cost center.

Anonymous said...

The following report was in BBC Business today:

"The inquiry found that the misreporting of profits began after the financial crash seven years ago, when senior managers began imposing unrealistic performance targets.
"Within... the company....., there was a corporate culture in which one could not go against the wishes of superiors," the report said.
"Therefore, when top management presented 'challenges', division presidents, line managers and employees below them continually carried out inappropriate accounting practices to meet targets in line with the wishes of their superiors."

Sound familiar??

In fact it is about Toshiba, which has just announced significant overstatement of previous years' profits due to accounting irregularities.

So what is the difference between CSC and Toshiba? Toshiba's top 2 executives apologized and resigned. CSC's Mike Laphen had to be pushed and Chairman Rodney Chase is still there collecting money.

Anonymous said...

Hmmmmm - payrises. There's something that doesn't quite sit right. I am in the UK and was told by my line manager that I was to receive a 2.04% pay rise effective in July. That very same week I was invited onto a call by their line manager to say that I was included in scope for the next phase of redundancy. Give with one hand and take away with the other. An approach that is happening more and more in the corporate world. The statement was made that this was a cost reduction process and the roles are to be offshored. From a Human Resources perspective (not that employees actually get ANY support from our HR), this is very close to illegal practice, because the roles are to be continued, albeit in India at a lower cost. Small wonder that staff moral in CSC is at an all time low, especially when we see the salary levels of those who are destroying the company.

Anonymous said...

Great more money for the leaders for sacking the workers. - I got a 2 rating. I was told that at level 2 one might get a raise. And now they sacked 4 of my co-workers, and now I have to run faster to get things done... Plus we won a new contact... Well im starting to look for a new job, and hope i can bail out next year. I think that top management, will sell out as soon as possible.

Anonymous said...

21:12.... Good thing you were not rated a '1'. They would have sacked 8 of your co-workers and had you take up their work!

Good luck on your job search.

Top management won't sell out too quickly - they have too many free Stock Options to collect and cash out.

Anonymous said...

>> Top management won't sell out too quickly - they have too many free Stock Options to collect and cash out.

Well you'd think so wouldnt you. Mikey gives himself and his breakup advisors at Jana a $10 special dividend in October (and dumps the cost of the $1.4 billion loan for that dividend onto NPS). You'd think Mikey would be stockpiling his options til at least October to qualify for that inducement/bribe, but no .... https://finance.yahoo.com/q/it?s=CSC+Insider+Transactions

Hmmm, maybe theres a role available as his personal financial advisor?

Anonymous said...

I believe that a way forward for all disgruntled employees - which are now exceptionally numerous - could be to make as much noise in the corporate world as possible. Stand up to the various bullying tactics employed by Human Resources - at the behest of senior management - to force employees to leave of their own right due to being unhappy rather that the more costly route of redundancy. As the manner of cost reductions is so close to being illegal, if more people make a noise surely someone will listen. Maybe the stock market!!??

Anonymous said...

Last year, the excuse for not giving raises was "We didn't meet our financial targets as a company".
This year, the policy is "no raises" across the board - the excuse being "They don't want to take on any more costs before the split of the companies".
It's not hard to imagine that next year, after the split, the Commercial side of the house will again be unprofitable on the whole, and thus there will be no money for raises.
I shudder to think what would happen if the company is sold to some Indian firm. It sure does look like that's the plan.

Anonymous said...

This truly is a rotten company. The best time to look for a job is while you still have a job. Don't let this company upset you any more than it already has. Find something else and give them a two week notice and get as far away from this train wreck as you can.

Anonymous said...

I think that most people or investmentsfunds only buy stock to boost their profits. They don't really care how the company is run, as long as the stocks gaine value. It's only when the values go down, they just jump ship to keek damage to a minimum... Then invest in other stocks. One thing is for sure.. I won't work for a Company that's on the stock market again. - ever. top management and stock holders only want max profit fast, even if it kills the company in the short run. Then it's on to the next company to pillage for profit.

Anonymous said...

Another class action suit for failure to pay overtime to system administrators, Starch v. Computer Sciences Corporation, case No. 14 Civ.956 (JBA), pending in the United States District Court for the District of Connecticut.

Anonymous said...

Strauch v. CSC

Anonymous said...

UK - people working on EU accounts not contributing to UK bottom line heading for the chopping board.

Funnily enough, those working on special projects with CSC USA are exempt...

Should be done in time for a lovely Christmas job searching....

Anonymous said...

So does anyone know what happens to the poor individuals on cost plus accounts in UK?. Will they be near shored or off shored?

Anonymous said...

That class action suit is over a year old. Not new.

Anonymous said...

Mikey's had his snout in the trough again.... https://uk.finance.yahoo.com/q/it?s=CSC ......just the $1.8m off the back of the hard-working, long-suffering employees this time, loose change

Anonymous said...

Some people in the UK were awarded ex-gracia "bonues" that tuned out to be named as "retention awards" that you have to pay back if you leave inside 6 months . . . . .

Anonymous said...

For 500 of you, welcome to your new Indian overlords:

https://www.csc.com/newsroom/press_releases/125197

I'm sure the bedraggled survivors from CSC will be seeing you there soon too, save us a seat near a window please.

Anonymous said...

I just got the letter in the mail to opt-in this week.

Anonymous said...

It was obvious that the strategy would be asset stripping CSC. This company will be liquidated in a year by pieces. Good job!

Anonymous said...

They will be replaced in Spain by the gang of friends and family members that run their own fiesta. Workers are good but arrogant mngmt is like the Corleone family. Get your resume updated before they ask you to do a 15 minutes kt to your replacement. Good luck!

Anonymous said...

http://www.hcltech.com/careers/explore-hcl-india
70 jobs going... also when looking at careers it kept sending me to none india sites that have no India jobs listing.... they are going out of way to play down the India career side of things....

Says it all really!!!

Anonymous said...

The lawsuit was filed a year ago. It's taken this long to get through all the bells and whistles. One thing for sure is that the US justice system does not move quickly.

Anonymous said...

Yes, this has been the Mikey's plan from the beginning. Fatten up the turkey for slaughter.

Anonymous said...

It has been awfully quiet here the last couple of days. Hoping it's just everyone taking a break and not that they have been sacked.

A question for the US workers who use this forum. There were a couple of posters earlier in this topic that said that they had received raises or at least been notified that they would receive raises this year. Has it made it to your paycheck yet? The US workers usually get their increases in July (1st paycheck in July) although in the past it has been delayed. Just wondering if those getting raises had started receiving it yet.

I am assuming, since I have heard nothing, that I am shut out this year. And I figure my manager is too weak to pass the bad news.

Any information would be appreciated.

Anonymous said...

I'm no financial expert, but this looks like CSC has borrowed 500 million for 364 days...

http://biz.yahoo.com/e/150728/csc8-k.html

This sort of deal is usually to fund some sort of very short term debt.... other than Mikey's paycheck, what could this be for?

Anonymous said...

Modest raise was part of past paycheck. However, it's difficult to tease out whether this was an authentic raise or simply a salary adjustment under the banner of a raise in concert with contractual specifications. By that I mean that employee salary increases might have been earmarked as an itemized expenditure and efforts to re-purpose these allocations could risk vitiating the contract. Kindly note, however, that what I've stated is speculative and contractual law is something which with I'm wholly unfamiliar.
Or, if we operate on the assumption of 'corporate good faith and honest declarations,' we might have indeed received raises.

Ninnynoo said...

I joined CSC UK in 1995. It was great. I worked with loads of fab people when Honeycutt was in charge. However, I found him to be the rotting fish head downwards of the whole company so dont blame Laphen for following suit. WRONG I know but until the loopholes are plugged, it is still legit to keep their troughing within the guidelines, thus troughable. All those managers who sycophantically followed the CSC terms should but wont hang theirs heads in shame for how they have shafted the company and staff. I left over 4 years ago and I an glad I brushed the useless CSC turd off my hardworking shoe. Good riddance to what was a great, yet now, weeping sore of a company. I'm ashamed for you who still work there.

Anonymous said...

Personally , I feel pity is a more appropriate emotion.

Anonymous said...

Ninnynoo... good riddance... you sound bitter and twisted..

Anonymous said...

Our group's supervisor told us late June that there would be no raises this year. And our supervisor was correct. Bupkis!

Anonymous said...

I do feel pity for the current CSC employees. They are just being exploited, nothing more.

Anonymous said...

No raise - and zero communication!
And that's really the worst part - they don't even have the guts to tell you to your face that there's no raise this year. I personally find that very unprofessional and it shows a lack of respect.

Anonymous said...

That's alright, the UK has suffered that for years. Don't feel special!

Anonymous said...

Busy Bee must be on vacation ... no response to this article in the 3 August Washington Post? http://www.washingtonpost.com/business/a-turnaround-specialist-reshapes-computer-sciences-corp/2015/07/30/c2be7c9c-32dd-11e5-97ae-30a30cca95d7_story.html

Anonymous said...

She may not be on vacation - she just may not have recovered yet from laughing at what was presented in that article. Once you get those belly laughs going, it's really easy to get a muscle strain that takes time to recuperate from.

Anonymous said...

09:14. Believe me, the LAST thing the US employees feel is special.

Frustrated and hopeless? Yes
Pissed Off: In many cases
Taken for granted: Yes
Tired of being the fodder for the bosses bonuses? Absolutely.
Tired of being replaced by inept "low cost area" newbies? Yep

Special? No.

Anonymous said...

That's the most incredible piece of writing I've ever seen... I could cut, paste and rip to crap so much of it, but I'll just do this one thing that has to be done:

"Viewed from a certain angle, Falls Church, Va.-based Computer Sciences Corp. looks like a case study of everything people think is wrong with American capitalism: Misleading investors through rosy accounting. Golden parachutes and excessive executive pay. Ruthless cost cutting and outsourcing of jobs overseas. Plumping up share prices through stock buybacks, special dividends and other feats of financial engineering.

Yet from another angle you can see in this Beltway information services giant everything that has made...."

....Hedgefunds and other financial parasites rich in the post-2008 crash era.

There's nothing positive here, except as an example of how to efficiently asset strip a mega corporation.

Pride in your work Mikey? I suppose vultures pat themselves on the back after stripping a corpse too.

CSC is soley an investment vehicle these days, its not a functioning business. Its a pile of numbers to be manipulated and traded, the customers they could care less about, the employees even less than that. However this is what the Wall Street mafia want and Mikey has delivered it.

Anonymous said...

Well, it looks like CSC has either fooled or paid this journalist .... (Note the comments at the end of the story - US employees aren't thrilled with the company either...)

http://www.washingtonpost.com/business/a-turnaround-specialist-reshapes-computer-sciences-corp/2015/07/30/c2be7c9c-32dd-11e5-97ae-30a30cca95d7_story.html?tid=pm_business_pop_b

Anonymous said...

It appears as though this journalist was either fooled by Mike's hype or was paid for this ... take note of the comments at the end of the article ...US employees are feeling the pressure too ....

http://www.washingtonpost.com/business/a-turnaround-specialist-reshapes-computer-sciences-corp/2015/07/30/c2be7c9c-32dd-11e5-97ae-30a30cca95d7_story.html?tid=pm_business_pop_b

Anonymous said...

Told in June, no raise again.

Anonymous said...

CSC was a great company, I've been here almost 20 years. I am taking early retirement in 392 days. The only reason I still have a job is because I direct bill a contract that doesn't allow foreign nationals. CSC used to have the best medical/dental/pension benefits and gave yearly raises. I averaged a 4 - 7% raise for many years. Then the cuts and layoffs began. Pension plan was frozen. Medical became a joke, had to go on my husband's better plan for less money. I was a level 5 computer scientist and then received an entry-level title last year. The company was sued for not paying for "forced" overtime/charging and lost. One year we had to take a pay cut for one month. We were forced to use our vacation during the "holiday shutdown" which was a joke. Employees were forced to move to "low-cost centers" but I was saved by being direct bill. The good ones are leaving in droves. I just need to hold out for 12 months. It can't get much worse, can it?

Anonymous said...

This article looks at first glance like a puff piece, but read it thoroughly and it accurately details what is happening in CSC. Treatment of staff (and their mass departures), other companies grateful to CSC for allowing them to hire such great folk, the executive remuneration, and so forth.

The comments after the article are almost as good as the ones here!

https://www.washingtonpost.com/business/a-turnaround-specialist-reshapes-computer-sciences-corp/2015/07/30/c2be7c9c-32dd-11e5-97ae-30a30cca95d7_story.html

Anonymous said...

I agree, it's actually a pretty good article in that it differentiates between Mike's view of CSC (give me all of the money), Wall Street's (give us the money) and the employees responsible for delivery (where's our money). The uspoken element is whether the first two groups care about the fact that treating the employees so poorly means they are killing their cash cow.

Anonymous said...

Looks as though this journalist drank the CSC Kool-Aid ...or they paid him for this review! Check out the comments at the end of the article - US employees are feeling the pain as well....

http://www.washingtonpost.com/business/a-turnaround-specialist-reshapes-computer-sciences-corp/2015/07/30/c2be7c9c-32dd-11e5-97ae-30a30cca95d7_story.html?tid=pm_business_pop_b

Anonymous said...

Tantamount to abuse of power

One thing that seems to have escaped scrutiny, lost in the huge volumes of the 90 odd page document (probably why it has escaped scrutiny), attempting to justify continuing to pay the senior management team extortionate amounts of money and shares, due to the amazing share price growth (fuelled through smoke and mirrors / market stupidity and share buy backs you could argue!)

Form DEF 14A http://www.csc.com/investor_relations/ds/34081-sec_filings

(1). Page 65 of the HTML version / 54 of the pdf version

By no means the largest figure – but the one I personally find most shocking (given the number of redundancies, pay freezes etc.) is Mikey’s whopping $362k PERSONAL use of the company jet – this is just the cost of fuel / landing fees, not pilot fees, wear and tear etc.

Surely it’s a bit extravagant flying the kids to Red Lobster, to celebrate those $63m odd share awards?
And that’s on top of another $54k “commuting expenses”. Those Limos, with hot tubs, soon add up!

(2). Page 76 of the HTML version / 65 of the pdf version

Another thing that gives me a warm fuzzy feeling inside – now I might be reading this wrong – but I think this says that Mikey gets $32.7m TAX FREE and Saleh $12.4m for a change in ownership. Mikey being on both company boards – does he get this twice, when both companies are sold off?

Sort of influences a certain type of behavior, even if it is to the detriment of the company, or not…..

(3). Now call me old fashioned – isn’t there such a thing as closed periods anymore, when shares can’t be traded, as employees (especially the CEO) have insider information? I would think the closed period, at least, would run from the last day of the quarter, to the date the results are announced, as you are potentially party to insider information, the informed investor is not?

If my assumptions are correct, Mikey has cashed in to $4.1m of share sales so far, during closed periods – kerching, in I would have thought, is quite a dodgy way.

Date $ Value of shares sold Qtr end Month end / results timing

16-Jul-2014 126,365.39
17-Jul-2014 127,829.03
30-Jul-2014 128,354.75
31-Jul-2014 124,807.50

507,356.67 Q1 FY15 Month end date 4th July 2014, results announced 7th August 2014

14-Jan-2015 126,493.23
15-Jan-2015 125,092.82
26-Jan-2015 127,446.10
27-Jan-2015 125,803.76

504,835.91 Q3 FY15 Month end date 2nd Jan 2015, results announced 9th Feb 2015

07-Apr-2015 261,549.25
08-Apr-2015 1,835.12
21-Apr-2015 260,976.00
22-Apr-2015 261,787.00
14-May-2015 262,682.94
15-May-2015 269,915.08

1,318,745.39 Q4 FY15 Month end date 3rd March 2015, results announced 19th May 2015

15-Jul-2015 1,255,471.00
16-Jul-2015 271,993.90
17-Jul-2015 269,699.50
27-Jul-2015 39,083.59

1,836,247.99 Q1 FY16 Month end date 3rd July 2015, results to be announced 11th August 2015

(4). The icing on the cake. Not an abuse of power but showing mismanagement really does pay – Mikey racking up a mere $50m from FY13-15, for

• reducing sales by $2b (17%) over that period,
• turning an operating profit into an operating loss,
• halving the earnings per share (EPS),
• sacking circa 20k staff (that’s approx $2,500 pay for Mikey per sacking FY13-15) and
• ensuring CSC will no longer be an entity / recognized brand, in the near future…..all in a days (well a few years) work.

We’ll done Mikey – I’m sure your Mother would be proud. If you are still struggling to pay the electricity bill, I’m sure we would all be happy to have a whip round for you!

Now, if I were a shareholder, voting on executive nominations and pay in the AGM……

(per Page 63 of the HTML version / 52 of the pdf version)



4,167,185.96 4,167,185.96



Anonymous said...

CSC Australia can't close and excute on deal's appreantly still to expensive to the clients , even though all delivery is being done offshore.

Or they are loosing deals saying they have capability to do the deal , then the client finds out there's actually no one there , and CSC will hire once awarded the contract.

POD's being run by people who have no leadership or technical capability to deliever services , The people that are hanging around are only waiting for there 10 year long service leave , or a nice redunacy payout.

Anonymous said...

Re the closed season trading... sadly, I think its all done with a long term sell instruction setup years in advance. I don't think anyone can find anything wrong with this, much as I'd love them to.

Anonymous said...

I think managed to dodge this years UK cull as gone quiet.. anyone kjow if all people at risk aware yet?

Anonymous said...

what did you want?

Anonymous said...

Today feels like Groundhog Day.

Anonymous said...

Any news on UK redundancies. Is it all finished? Everyone at risk informed?

Gone a bit quiet..

Anonymous said...

You should know by now it is never finished in CSC. Watch out for the quarterly results later today.

UK calling said...

CSC today announced 1st quarter earnings delivering growth, margin expansion and improved cash flow, while returning significant capital to its shareholders.

Shame it doesn't deliver pay rises, bonuses and job security or does it ?

https://uk.finance.yahoo.com/q/it?s=CSC

disgusting behavior in the UK , CR and VR, but the VR is vetted, destroying families, people have mortgages to pay while top cheese milk the company on a monthly basis taking more than most will earn in 10 years !

Roles going to Indian, watch this implode.

UK calling said...

not the only one, roles being offshored, CR and VR, (tho VR is vetted) , peoples lifes being destroyed, while top jocks take millions, more than most will earn in a lifetime , disgraceful behavior !

How they sleep at night I dont know.

Anonymous said...

You've only focused on the Mikey numbers... missing the ~10% drop in revenue.

Sure, the profitability is increasing, but 10% margins are lousy when its 10% of an increasingly small pie.

CSC has handed back loads of money to shareholders... but is about to hand over a massive chunk in October.

Paid for by employees destroyed lives.

Nice.

An interesting question from the analysts call last night:

David M. Grossman - Stifel, Nicolaus & Co., Inc.
Thank you. Mike, on that last question, the GIS business seems to be the one, at least for me, to assess what a business like that looks like after it's transformed and after you've completed all the different things that you're trying to do there. So is there anything you can share with us about, I guess, first of all, the visibility you have within the portfolio where you think a lot of the headwinds start diminishing? And anything you can share with us about what this business should look like in equilibrium in terms of the growth and the margin, and really the free cash flow conversion rate on net income?

In other words, you keep telling everyone about how CSC is doing lots of stuff to "turn around" the company, when are you actually "turned around".

I think employees know the answer.... its a constantly changing set of targets, all in the name of "turn around" but none of them "turn it around".

Anonymous said...

Same here in Belgium. "Retention bonus" they called it..

Anonymous said...

Human Resources are there to protect the Company from you the worker. You won't get anything out of HR!!!!