Market pulls chain on Crapita share price after first ever profit warning Capita’s share price went into freefall this morning after its first ever profit warning, with troubles at the tech reselling and recruitment services units blamed, as well as costly delays to its Transport for London contract. Turnover grew four per cent in the first half of the year, but Capita confirmed “subsequently, our …
@ AMBxx - you could at least try to get the facts right. C[r]apita haven't yet taken over Opticians Payments, and haven't yet had the chance to make payments due to that very fact. The handover will happen, but it's a bit difficult to be late making payments when no payments are due yet.
Um, yes they have. Assuming you work for Capita, maybe this is the reason they're late?
Maybe it's a regional thing? East Yorkshire is from Capita now. I think the office is Liverpool, but not sure.
Apologies for posting on something of which I have personal experience. I know that's rare on here.
I can neither confirm no deny that I work for them, I can neither confirm no deny that any of this may be true, and I can neither confirm nor deny that I may be taking a slightly closer look at the recruitment emails that occasionally come my way.
But it's nice to see that you'd sell down thousands of employees for your personal experiences of a company. That kind of generalisation should be on the D@ily Fail, not here.
I can neither confirm or deny that I may be an employee at said company. But the news of the share prices drop is of no surprise. the "Slow-Down" group have been aware of issues for the last couple of months and the famous outsourcing company has been making the redundancies during the financial tight spot that they may or may not be in... to only offshore said roles of people who are being made redundant.... got to love them.......
"Thanks all for wishing that 80k employees would lose their jobs. Nice to know people care."
Nonsense. The work would still be done. Hopefully by smaller, independent companies with some real competition. To do the work properly might actually need more people.
How can it be that the same company is contracted to collect Council Tax, yet also to charge extra for bailiffs if the payment is late, thus creating a potential conflict of interest? That kind of thing is where the problem lies; contracts written to include perverse incentives.
Not outsourcing at all....
Lets see, outsourcing makes sence when its
a) not core to your business such as the canteen in an office
or
b) Something that you are testing - such as a small company that gets a bit too big for the one man band IT department....
or
c) You dont know exactly how something will pan out and may need to drop it at any point (i.e. you dont want to have the staff on payroll so you can get rid of them quickly).
The big problem is that bean counters like saying .. right .. for X service we will spend EXACTLY x amount of money - and its a race to the bottom for cheapness (in the main). Which tends to mean that outsourcing is WAY over used, WAY over-priced and WAY under staffed, etc, etc...
In 20odd years, I have NEVER seen in big business a real outsourcing project that has actually worked, EVER....it has always cost more, been of poorer quality and over-run.
Many of the lower level people are perfectly pleasant, it's the senior bean counters that are trying to commoditise complex tasks so they can get them done by underpaid idiots. I spent some time at the contact center arm and was trying to hire technical staff for a massive migration project and the budget was painfully low - 20-30k for a senior engineer. When I challenged the salary range I was told to hire them out of the job centre because the bean counter didn't realise that engineers don't grow on trees like contact center agents do.
They are losing contracts. Government agencies are ripping up single sourced contracts and awarding contracts to smaller, specialist SME's and managing through SIAM. That, and they are being dumped from contracts early due to poor performance. "unwieldy”, “unnecessarily complex”, “expensive”, supply chain 4 deep in places, review meetings spent arguing "extras" because they price their contracts by the lowest common denominator and then charge over the odds for every little change. I don't like to generalise so will credit the doubtless many employees who do a great job and work their socks off for their customers, those employees who were no doubt acquired via TUPE and were doing a great job before their jobs were taken over by Capita and not off-shored yet, the cynic in me, I am amazed how they can keep securing government contracts and not surprised at all by profit warnings.
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