Originally Posted by
Mambo
I dont know mate - but I reckon around 45k maybe , civil engineer types. They arent overly concerned - as they will go and work for whoever buys them out / takes over the contract. Seems to happen a lot in the construction / IT industry.
There is pension fund is deficit of 500m , but I know he has another pension setup (SIPP) and they both have rental properties they let out.
SkyNews earlier saying the UK end of it is sound, the problems seem to stem from valuations they put on overseas work Carillion were doing - it wasnt worth as much as they thought. Over valuation, over investment, over paid a dividend - hence they are now in debt. The Govt quite rightly wont bail them out, administration in the morning. Someone will buy up those UK contracts - guilt edged juicy Govt contracts.
I heard that Costain would be one of them - dont know if they are that big though.