Insurance being sold off for $2.4billion.
Wonder if the Execs will take cuts running a smaller ship. The lucky folks will be off loading to another company and will get be getting pay rises.
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@1hc+ you don't know your finance. DXC is a profitable organization, GIS and CES are generating $713 million in free cash, thats after paying all expenses. Insurance was a small arm 10% and won't make a big difference. The company has just under $5 billion in its bank account. Imagine $5 billion in your account and you freeze pay for years.
They just don't want to give you pay rises, its a sweatshop, they are happy for you to live on the breadline.
@h7 are you crazy? The two remaining businesses are NOT making $$. It will be a fire sale of scrap for parts. Those of us in CES or GIS have more firings more layoffs and more scrutiny to look forward to until DXC finally fire its impending death.
This sale was in the works for years.. like they keep it in their back pocket for times like this in order to boost the share price. Guess who's gonna have a merry merry Xmas..
Sold it on the cheap, could have got another $1billion easily.
However company will have $4.5 billion in the bank, and the CEO OR CFO dont know how to invest it.
The company has effectively become a cash shell, will have $800million in the bank after paying all its debts and 2 remaining business much larger than Insurance making money.
Share price well low, time to buy potential to $40 to $50.
Wonder if the raises will finally be paid. Not excuses left now.
Just CES and GIS to sell now.
Which one is less of a dog?
CES gets replaced or boosted by AI... GIS becomes a powerhouse due to Oasis.
OK maybe I've had too much champagne celebrating the money I'm about to make shorting dxc.
Well played by Raul and Robby... Laughing all the way to the bank. Now how will they hide the incompetence when insurance no longer there to pad numbers.
I have this image of these exec pigs stepping over each other at the trough in all the swill. They won't give a hoot about employees.
Good news. More money will be available to support workforce reductions.
That's revenue right? So raises all round now?
OK I'm laughing at my own joke there
Execs will be getting more money and payoffs if not. They will have taken $100 million off the price for their cut.