Their CEO's basic pay increased from £790k to £1.5m in the five years he has been there and last March they paid out a record dividend on 18.4p a share. Part of the CEO's additional bonus was based on appointing a new Finance Director to improve leadership yet one year later they have unsustainable debts and a massive pension shortfall.Originally Posted by Auntie Andy
What I can't understand is that the government has a defined IT strategy of seeking to work with small to medium enterprises rather than giants like IBM and Accenture to lower dependency on high margin major businesses yet at the same time when it comes to infrastructure and outsourcing projects a large proportion of the work ends up with the same small number of companies.
Carillion may now be considered too big to fail and may need state intervention or if this is considered to be too risky politically then the impact will be most harshly felt on its workers and those in its pension fund.
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