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17/07/2012
G4S Chief Executive Regrets Taking Olympic Contract
The chief executive of security firm G4S, Nick Buckles, has said he regrets that the firm ever took on the Olympic security contract.
Telling the Home Affairs Select Committee that G4S had taken on the contract to enhance its reputation, he agreed it has become a "humiliating shambles".
The company is facing potential loses of up to £50m from the £284m contract as it has failed to supply enough guards.
Mr Buckles said police and the military would be reimbursed for providing personnel to plug the gaps, adding that the cost of accommodation for troops would also be covered.
He made the comments after 3,500 extra troops had to be deployed to meet the firm's shortfall. Police have also helped fill gaps left by G4S.
Amid rumours of resignations Locog chairman Lord Coe said it was not for him to say whether Mr Buckles should resign.
When asked why he was still in the post, Mr Buckles said: "It's not about me; it's about delivering the contract. I'm the right person to ensure that happens."
G4S had been contracted to supply about 10,000 members of staff.
Mr Buckles told MPs his company had about 4,200 people "working on the ground" and expected that at least 7,000 people would be in place for the Games.
"Clearly we regret signing it [the contract] but now we have got to get on and deliver it," he said.
(H)
Telling the Home Affairs Select Committee that G4S had taken on the contract to enhance its reputation, he agreed it has become a "humiliating shambles".
The company is facing potential loses of up to £50m from the £284m contract as it has failed to supply enough guards.
Mr Buckles said police and the military would be reimbursed for providing personnel to plug the gaps, adding that the cost of accommodation for troops would also be covered.
He made the comments after 3,500 extra troops had to be deployed to meet the firm's shortfall. Police have also helped fill gaps left by G4S.
Amid rumours of resignations Locog chairman Lord Coe said it was not for him to say whether Mr Buckles should resign.
When asked why he was still in the post, Mr Buckles said: "It's not about me; it's about delivering the contract. I'm the right person to ensure that happens."
G4S had been contracted to supply about 10,000 members of staff.
Mr Buckles told MPs his company had about 4,200 people "working on the ground" and expected that at least 7,000 people would be in place for the Games.
"Clearly we regret signing it [the contract] but now we have got to get on and deliver it," he said.
(H)
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After failing to supply the required number of Olympics security staff G4S should forgo its £57m management fee, a committee of MPs has said. In a report on Olympics security, the Home Affairs Committee go on to argue that G4S should also compensate people who were accredited for Olympics work with the firm but not given any shifts.
G4S Should Forgo £57m Olympic Security Fee MPs Say
After failing to supply the required number of Olympics security staff G4S should forgo its £57m management fee, a committee of MPs has said. In a report on Olympics security, the Home Affairs Committee go on to argue that G4S should also compensate people who were accredited for Olympics work with the firm but not given any shifts.
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Shares in security provider G4S fell 9% after announcing that it had failed to recruit enough security staff for the Olympic Games, and could face up to a £50m loss on its contract. Late on Friday, G4S said it faced a £35m-£50m loss on the £284m contract after admitting that it did not have enough staff to cover the Games.
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