* Posts by PAULPRY

8 posts • joined 18 Jan 2018

Just let this sink in: Capita wins 12-year £1bn contract to provide training services to the Royal Navy and Marines

PAULPRY

Re: CIPFA

When I worked at Crapita I was amazed how many BCs they employed - every one of the divisions and companies seemed to have endless layers of bean-counters with fancy titles - 'senior' this and 'strategic' that. They often weren't even real, qualified bean-counters - just myopic jobsworths who'd been there a long time. I notice that most of my ex-colleagues who've 'moved on' have been unemployed for months - presumably no-one else wants to employ them.

The company just keeps on disappointing - I notice their shares are very close to dropping out of the FTSE-250 index, just like they dropped out of the bigger companies' FTSE-100 index a few years back. A few more pence off the share price should do the job.

Capita Consulting ditching more than a quarter of its workforce 45 days after consultations with consultants

PAULPRY

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.

Capita cuts projects, furloughs workers due to 'unpredictable level of disruption' from COVID-19

PAULPRY

Long downward spiral

It'll be interesting to see whether Capita survive Covid-19. The share price has fallen hugely. There have been so many disappointing announcements over the past few years.

Turnover down, losses widen and shares crash: So, business as usual at Capita

PAULPRY

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.

£10k offer to leave firm ASAP is not blackmail, Capita told by judge

PAULPRY

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.

PAULPRY

Re: Accountants

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.

Capita flogs Asset Services division for £888m

PAULPRY

Link are in the news again - as online funds supermarket Woodford Investment Management collapses (FT, 17/10/19), Link Fund Solutions are apparently under formal investigation by the Financial Conduct Authority.

Wave Tata, Capita: You've lost mega-contract to rival outsourcer

PAULPRY

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?

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