Extracts from an article by Graham Hiscott, Business Editor for The Mirror.
“The Tories faced a fresh outsourcing crisis as more than £1billion was wiped off Capita’s value today. Shares at the giant, which gets nearly half of its cash from Government work, crashed 45% to a 15-year low of 182.5p.
There were fears for Capita’s 70,000 employees, 50,000 of whom are in the UK, and the news comes just weeks after the devastating collapse of Carillion. Capita – a white collar version of the construction giant – has won 226 public sector contracts in the past two years.
That was more than 10 times the number awarded to Carillion, according to data firm Tussell.”
Read the full article on The Mirror website.