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Thanks GoCPI
I cant comment on Tim Weller . I don't know whether he in practice had much say and was just doing what he was told.
But if they can find 160m worth of savings in a few weeks it kind of begs the question why couldnt JL and TW do this? We don't know what the blockers were do we so it would be unfair for me to comments
However I am resentful towards the BOD for making it sound like we were on tract , that the turnaround was virtually down and the platform for growth had been now laid and it was takeoff. I invested a lot of money on the back of this and quite evidently (via the cuts that have now been announced) this was not the case
I've protested to IR and have been told that the SP is very much on the Board's mind. What they will do about that, I dont know?
How difficult can it be with 3b of revenue to run a tight ship to make a low margin business work? Surely not that difficult. Be selective on property, have a much reduced but motivated staff
I have been part of businesses that have increased profits substantially by being rigorous on costs and I hope this is coming our way but a dividend during 2025? Im not so sure. Im praying this doesnt go bankrupt at this point , like Carillion
@JG I don't know -there may be an II who has had enough
IR has indicated to me that part of the last sale will also be used to fund the cost cuts and the money is there via the debt facilities to implement the cost savings. Do I hold on or am I going to be left with massive egg on my face? We are talking about a circa 3 billion pound revenue company here . WTF have they been doing?
Mainly management and senior staff but quite frankly , and in case you work there , the company is loss making and needs its cost base radically transformed unless of course you are happy for the company to go bankrupt
If you dont work at Capita, ignore the above. But quite frankly from the heady days of an £11 share price what has unfolded is am unmitigated disaster
Alfredo not that Im doubting your word re Adolfo's lividness but with respect, this must have been inevitable before he joined in January. You are making it sound like he was surprised. Unless he was sold a pup like us.
He has said that the 100m cuts will go into 2025. I dont see that as that short term. Personally I think he knew what he was getting into full well and he is using the poor results to make hard nosed changes. I welcome that but would like that to be faster
This company seems to have been run as a public sector therapy extension group