Just having a look at this board from DXC.
I see it’s the same shithole here as it is there.
Can someone plz advise if Kyndryl give pay rises yearly?
Most DXC staff haven’t had one for years.
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They really do not have any physical real estate to say of. I think maybe, they can claim the New York headquarters. Why would kyndryl actually need physical assets. If the time comes we will just use IBM assets. Kyndryl just seems not to bare the idea of being physically separated. We need to stay close to the mothership. You never know when the time comes. Martin will need to be quickly beamed back aboard and welcomed back into the hive. Oh yeah, I also agree with the hot mess statement, spot on.
Your comment makes me think of an interesting question for anybody who knows...what exactly does Kyndryl have for assets? According to what I found on investors.kyndryl.com they have cash and debt. Their debt has increased slightly from 3/31/2023 to 3/31/2024, but their cash has dropped by a pretty big amount...$1.847B to $1.553B from 3/31/2023 to 3/31/2024...that's almost $300 million bucks.
The only other significant assets that I can think of are real estate plant+equipment. ...but does Kyndryl actually own any real estate? What data centers do they own (or at least have exclusive access to)? I dunno.
Pay rises in IBMs bad bank > dream on...
Sounds like not, but since a lot of our leaders are from IBM/Kyndryl anyway, it doesn't surprise me that the two companies operate in very similar ways.
I am not sure what Kyndryl hopes to achieve with this acquisition of DXC. If I was them, I would steer away from Apollo. Apollo could easily just acquire them. The only thing right now stopping any hedge fund from acquiring Kyndryl. Is Kyndryl's huge debt. Also the lack of any physical assets or substantial cash reserves. Kyndryl is a hot mess. Regardless of how messed up this company is. The moment the stock value starts to tumble. They will end up on somebodies radar.
Oh you're gonna LOVE it here DXCers! (NOT!!)
I already feel bad for you guys. He-l, I already feel bad for myself :-/
Bunch of complainers, not happy get a new job!
I am considered a top-performer on a very large account and got 2%.
Not really or depends which market are you working on. On my market no raises since 2 or 3 years, definitely not this year. Also no promotions which are understood as changing band for higher with 30% salary raise. I doubt it will change next year or another. Some markets have better time. Kyndryl doesn't earn. Also remember that when company buys company it's not because they are interested in its people but its customer base. Kyndryl won't need all these people since it has not enough job for current employees. That means mass layoffs. Take care there
Back to the original question,
Is it reasonable to expect a nominal 3% raise yearly at Kendryl?
I got the news today that my last is day July 12
It's easier to understand this M&A stuff if you think like a financier rather than as a traditional "business management type". The objective is to get more digits on the balance sheet, because that gives more room to cook the books (operations be damned).
It is true...Kyndryl has absolutely no business buying DXC, and any merged operation could very well crash and burn in its entirety. But that won't stop the deal's proponents. As alluded in another comment, the dealmakers will find a way to get out whole (or even more than whole) before it all goes to pot.
If Kyndryl buys DXC, you are gonna be looking for a job 12 months later. Kyndryl is already at the breaking point financially. This company has no business taking on that amount of debt and risk. Let's also mention Apollo this company is a shark. It is just another hedge fund looking to cash in on the short term. For Kyndryl to try and partner up with this type of company is foolish. I am without reservations, when I tell you Apollo has a plan to always come out on top and a plan on how to leave it's partners holding the bag. The amount of cost cutting will be insane if Kyndryl follows through with their acquisition of DXC.
This year they promised pay rises, it’s now 3 months in and they said they are sorting out executive bonuses first, and conveniently they run out of money after that.
DXC staffers haven’t had any sort of pay rises for almost 10 years, or more for some.
The ones who have had pay rises are like 2% over 10 years.
It doesn’t matter who you know or what you know, there is never any money unless you’re a senior executive.
Yes, Kyndryl will for the most part. My own experience has been. It is not based on merit. They like to say it is, but it is not. The workers with an in always do great. It is the whole not what you know, but who you know thing. Trust me it has never been more true, then here at Kyndryl (IBM) lite.