I worked for one of the firms they hoped to compete with, and also for Capita. IMHO Capita never would have stood a chance in competing with the big boys - it would be like Arsenal versus your local pub 'B' team.
7 posts • joined 18 Jan 2018
Capita Consulting ditching more than a quarter of its workforce 45 days after consultations with consultants
Capita have been useless for years and nothing seems to ever improve there. I worked for Capita and the useless managers I had are still there. They have never worked anywhere else and so have been marinated in a toxic culture for years. The HR function there was hopeless, they had a ludicrously complicated group structure, the hiring process was daft and they treated their staff poorly. The latest poor results and excuses show that the efforts to reform the company are doomed.
They had so many subsidiaries (over 200) that it was even more of a slog than most places. Also, some directors have a macho thing about getting the results out quickly. Other companies want to release their results to investors quickly, or to give themselves more time for possible creative presentation, late adjustments and tweaks.
You'd ask someone in accounts to create an accrual or provision for the amount you think would cover the payment, then give it some vague name. I once saw it as 'provision for technology', although that was for a group redundancy. The amount sits in the balance sheet until payment happens, or you just reverse the process if it doesn't.
Delighted to see such an awful company getting another kicking. Lowest share price since 2005 as at today, CEO gone, out of the footsie, profit warnings etc. They need to clear out the senior team - been there too long and not impressing with their performance. Why is the govt still giving them contracts?