Member Info for Simpiles

Mitie

They are focusing on what they do best. Services to industry! Cheap basic services delivered well.

Just what Capita is focusing on!

Capita expansion into Bulgaria. This is part of the expansion program into Europe that I have been talking about!

NF

Thanks for the video so much information. How long will it be live for , as I will need a number of screenshots to capture the data!

Trisor

Capita has started to expand its European operations and infrastructure. Its early days yet. I expect the indian operations to shrink slightly as Capita reconfigures.

In fairness these plans were already in place!

I would also expect a new CTO within 12 months. Part of the new team structure!

Hopefully the Governance process will be in place and the old hatchment management gone as part of the £100M reduction!

Moving on up 15p inbound!

Notice Period depends upon Grade and Contract. However 3 months is to be expected. You can leave within this period and be paid for Notice in Lieu ( But you wont get car allowance plus other benefits. Pension benefits are tailored to what suits you. However Capita Pension is close to useless!.)

I don’t expect management to be paid minimum redundancies like staff!

That is a real pity!!!

Trisor

Senior management cull is from the 3rd phase i.e the £100 million reduction. as management would have implemented phase 2 i.e the £60 Million reduction.

So many shorts will need to start buying soon!

New tax year starts next week this will allow most of us to add at a knockdown price.

As Bob says the times they are a changing!

Fill yer boots!

DYOR

Hi Aim

As far as I know the reduction in the property portfolio is only restricted by contracts. There are already plans in action to terminate leases on renewal. There may be plans in action to transfer leases or sublet based on minimum cost to the company. This has all been in plan for some time.

The service design is mostly in place .

This information may be available by searching previous Capita announcements. I can’t remember dates but would be around 2 years ago!

Remember DYOR

The job losses in Capita will be made in the following areas!

Automation

Capita has many manual processes, and the current governace process stops changes in this area. This is changing and those managers that enforced the current governance process need to go as well. Savings and change are required in this area!

Withdrawel from certain services where Capita is not cost effective!

AI

Lastly Ai will affect staffing numbers and reduce the size of Contact Centers.

I also expect a change from India back office functions to South Africe and Poland. This will be a gradual change, but it is coming!

This is just my opinion but most people will aggree it makes sense!

What should the UK support India when India supports Russia!

No Fear

Agree that the bigger traders have better knowledge than us, some of the decisions seem to be trigger happy though!

Its like herding sheep!

What we need is a good sheep dog! 😂

Thanks No Fear

Been busy all day yesterday. I will take a look at the data next week.

It now appears that there has been some sell out before the numbers release. So this fall in share price was planned probably in conjunction with the shorters! And they wonder why the UK is loosing credibility!

Trading in the UK is like the wild west at the moment!

As always Teamwork is the best defence against the cowboys!

Thanks No fear for the report.

I guess with such small changes in a single report you would need multiple reports over a long period to build patterns.

I guess this is a job for AI which is very good at spotting patterns! Some food for thought.

I still struggle to see how such small changes can drive huge swings in share price. I do honestly believe someone or entity is driving these changes. Who ever they are is hiding in plain-sight.

Its just my opinion more of a gut feel thats why doing your own research is key.

Other opinions?

Reduction in staff numbers is down to both sell offs and cost reductions! Last count in December was 42k there have been staff reductions since then with more to come later this year!

Capita will start rehiring new staff when they prepare for the new service offerings (Different skillsets)!

DYOR

I reckon the head count is below 43k as this was the number at the end of 2023. There are two sets of reductions to follow on from this. I reckon by the end of this year headcount will be around 38k. This means a 5k reduction in staffing numbers.

Most of the management heads are still in place, some will need to go as part of the changes. Capita needs to onboard new skillsets. I do believe they have a plan and are executing it! Hopefully we will find out in June!

Capita is still recruiting!

Remember DYOR!

Capita needs to simplify. The business previously was resistant to change (If it aint broke dont fix it). As someone who spent many years trying to introduce automation and simplification but was thwarted by senior management and the governance process. These very senior managers need to go as they are responsible for the cost structure. JL was too week to force financial change! AH needs to brush this layer aside and get with Automation. {This does not automatically mean AI} Listening to what AH has said that is what he will do its just a pity JL did not do this years ago!

We are at the bottom AH has got the message!

DYOR

Not Quite accurate when I retired late last year quite a few senior techies left average salary range £50-£80K. These were the people who won the old style business. However we have a core of middle management who need to be cleared out for the same reason plus a lot of Senior management that need to go. The new CEO needs to change the Board. I think you will see the start in Junes announcement! The business is changing and as such management and staff will also change. The numbers Adolfo has promised are achievable and he will bring in his own team! Thats why June is important!

The Staff reductions in Capita started in the last 2 quarters in 2023 and continued in the first quarter in 2024. The main reductions are in 2024. This means that the real benefits will apply in 2024. As JL stated figures are as expected I think that Capita will deliver what they promised, with an increase in margin to apply in 2024! The cyber incident was sorted as promised and further attacks on other organisations showed that Capita did a decent job. The Capita share price has been controlled by the village clowns but this is likely to change. My expectations are steady progress with better communications. I expect some changes as Adolfo brings in his own team. Hopefully a small Divi at the end of 2024 based on increased margin!

Its been a very long wait!

DYOR!

No DB?

History. The Chancellor of the Exchequer George Osborne announced what he termed the "National Living Wage" at the end of his budget speech on 8 July 2015, a new national minimum wage rate only for people over the age of 25. The National Living Wage is implemented via an amendment to National Minimum Wage Act 1998.

If a contract does not include living wage rates, then paying staff living wage rates may make it unprofitable! Simple economics!

DYOR