Back in the distant past, before I worked for HP...
I worked for a pharmaceutical company. After three years in post my boss told me to get my CV out and polish it up. I could use him and another HOD as referees and they would give me help to polish my CV and get a good job. I was shocked, I thought I was doing OK in the role. He told me it wasn't me, but HR had just told him to cut back on travel expenses. No more business class travel, no more hotels unless they were on an "approved" list which was short and composed of budget hotels mostly without restaurants. He then said his experience was that as soon as a company starts to trim minor expenditure like travel it's a sign that it has already slashed other budget elements to the bone and beyond. In short it was time to leave before the inevitable happened. We all took his advice and we got decent jobs with his help. Two years later that company was closed down.
The surprise with DXC isn't the slashing of budgets and staff, the surprise is that it's lasted this long.
BTW, I applied the expense rule when HP started to trim budgets and left them years ago. Thanks once more to my boss thirty years ago who taught me a useful lesson.