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Tayfun Salci / Zuma Press / Avalon

Capita could axe jobs to save £100 million

by LLB Finance Reporter March 6, 2024

written by LLB Finance Reporter 6^th Mar 24 11:14 am

Outsourcing giant Capita could cut jobs to save a further £100 million by 2025, this come after the firm swung to a £107 million loss in 2023.

Last November Capita announced they are to cut 900 jobs to save £60 million, however the latest announcement could see even more jobs lost.

Capita’s recently appointed chief executive Adolfo Hernandez said: “We need to deliver a rapid reduction in our cost base and are on track to deliver the net £60 million annualised cost savings, from the first quarter of 2024, as announced in November.

“Today we are announcing further material efficiency improvements of £100 million to improve our competitive position.

“I look forward to sharing more details on Capita’s future strategy in June.”