back to article DXC Technology bids $2bn for Swiss big cheese Luxoft

DXC Technology has negotiated terms to buy fellow New York Stock Exchange-listed tech services and consulting group Luxoft for $2bn. The agreement means that all issued and outstanding Luxoft Class A and Class B ordinary stockholders will get $59 per share in cash, assuming the transaction leaps any regulatory hurdles. The …

  1. Anonymous Coward
    Anonymous Coward

    DXC were running out of people to make redundant.

  2. Steve Davies 3 Silver badge

    re: Luxoft employs 13,000 people

    Luxoft employed 13,000 people

    Before the deal closed. Now there is just 13 left.

    There fixed it for you.

  3. Anonymous Coward
    Anonymous Coward

    Couldn't happen to a nice pair of bedfellows

    Courtesy of Wikipedia on Luxoft: "It is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland, tax domiciled in London, and is listed on the New York Stock Exchange."

    Sounds like a fine upstanding corporate citizen.

  4. sanmigueelbeer Silver badge

    Tell me if y'all have heard this before: Start polishing up your CV. Before the end of this month (of January 2019) all of you will be out of the job, DXC style.

  5. Paul 33

    Timer started....

    "Dmitry Loschinin will continue to run the business" for as long as is stated in the purchase agreement. After that he will gladly walk out the door citing "new opportunities", whilst rueing the day he listened to Mike's bullshit and chose to work for such a toxic person.

    1. Anonymous Coward
      Anonymous Coward

      Re: Timer started....

      "Dmitry Loschinin will continue to run the business".... just the same as any DXC manager does ie having zero control and having to obey ever micro managed command from Mikey, including "get rid of your employees".

      12 months or less before he walks... possibly sooner if he dares to say no.

  6. autogen

    134k employees and falling

    As of five minutes ago, DXC website reports

    133k employees worldwide. Maybe a trend graph needed.

    1. Anonymous Coward
      Anonymous Coward

      Re: 134k employees and falling

      I'll save you the effort it looks this this:

      \

    2. sanmigueelbeer Silver badge

      Re: 134k employees and falling

      133k employees worldwide.

      Y'forgot that it's starts with the phrase "At it's peak".

  7. Chubby Chuckles

    This smells of buying revenue and digital credibility, but it seems doubtful many Luxoft customers or partners will stick around to work with DXC, who are a bunch of No Known Skills muppets. Let the asset stripping continue until morale improves!

  8. Cartimand

    Well I'm sure it was nice while it lasted, Luxoft employees.

    Better get those CVs spruced up.

  9. G4FUJ

    Another business bites the dust...

  10. Anonymous Coward
    Anonymous Coward

    Wrong!

    You are all wrong! DXC has recently launched the supernova project and this will change to whole culture of the company and build a strong and healty company. Three times a week a new exercise is provided to all employees with exiting challenges like introduce yourself to someone you don’t really know, and the latest one: visit the website of Luxoft.

    In a couple of weeks all your negative comments will crumble in the shadow of the new and great DXC. Supernova will make DXC great again and Mike will be remembered as the great leader that rescued us in our deepest hour and darkest despair. Mike will be there!

    C:\sarcasme.exe -off

  11. Anonymous Coward
    Anonymous Coward

    No air con check

    No on site catering check

    No coffee in coffee machines check

    Site looks like bomb site with pot holes check

    Never fix leaky urinals properly check

    Promise training in appraisal, never happens. Check

    Use agile scrum method instead of proper project planning and test check

    Make ridiculous promises and force go live when not ready check.

    Constant lay offs and replace with cheap apprentices without sufficient knowledge transfer check. Not forgetting to not give them any decent pay rise once experienced. Check.

    Put technically incapable people into management roles check

    Allow nepotism to be rife and be incapable of getting rid when useless check

    Force capable staff into unrealistic workloads and force them into extra out of hours cover with insufficient reward check

    Pathetic knowledge transfer for staff hoodwinked into covering role of knowledgeable staff laid off

    Fail to reward staff that have taken on more skills over the years. Check

    Everyone over 40 having a mental picture and counting down the days when they can escape this misery when they can afford to take VR. Check.

    1. Anonymous Coward
      Anonymous Coward

      Check!

      (You forgot one check at the “Pathetic knowledge transfer“)

      You must be working in one of the better offices....

      No plants in the office, check

      Coffee machines out of order on daily basis, check

      No dustbins in the office, check

      Not enough parking space, check

      No pay raises, check

      Prepay purchases by yourself and claim later, check

      Travel allowance not paid on time, check

      No whiteboards allowed on the walls, check

      Not enough meeting rooms, check

      No pay for overtime, check

      No telephone sets provided, use your own mobile, check

      No WiFi access for your mobile phone, check

      Transfer speeds of the internal network around 5kbps, check

      Pay for your own food and drinks at personnel party, check

      Work 50-60 hour per week, check

      Buy your own note book and pencil, check

      No business cards, check

      Puke tendencies over higher management filling their pockets with money, check

      Fed up with this shit, check!

  12. Chubby Chuckles

    What a shame, Luxoft had a good business going there, even if they were focusing too much on automobile electronics and associated voodoo, which is currently entering into 'ye olde trough of disilussionment' as people realize the lawsuits around self driven car deaths will be nearly as expensive as building the actual chariots. Maybe that's why they sold out to Mickey and his asset stripping mafia?

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