Fury as boss trousers £600k bonus as Carillion collapse leaves 20,000 jobs at risk

thesun.co.uk ^ | 16th January 2018 | Alex Diaz, Tracey Boles and Katie Hodge

[Berlin_Freeper]

FURY erupted over fatcat pay at Carillion as the huge company went bust yesterday leaving 20,000 jobs on the brink.

Its former chief executive, who left in disgrace last year as shares plunged, was revealed to have got a £600,000 bonus while leading the construction empire to its doom.

Critics branded it farcical that Richard Howson, 49, was “rewarded for failure”.

His pay and perks in 2016 totalled £1.5million.

The company, which was also a major provider of services to hospitals and schools, went bankrupt with debts of £1.5billion after banks finally pulled the plug.

[Berlin_Freeper]

Carillion fallout: Firemen to serve school dinners, jail chaos, and 20,000 jobs at risk

[SauronOfMordor]

Bankruptcy court should claw back that bonus.

[Berlin_Freeper]

Carillion collapse hits schools, hospitals and rail networks across the country

[Berlin_Freeper]

construction of two English hospitals – where workers said on Monday they have already begun to be laid off – one Scottish road and a development in Doha, the capital of Qatar. Together they were enough to kill off the company.

[Berlin_Freeper]

Shareholders will not get anything.

[Berlin_Freeper]

Ministers gathered for an emergency meeting on Monday night in an effort to limit the damage caused by the collapse of the sprawling construction and support services business.

[Berlin_Freeper]

12 January 2018 - Key UK contractor Carillion denies rescue plan in doubt
The firm's share price has plunged by more than 90% over the past year.

[Berlin_Freeper]

https://www.bloomberg.com/gadfly/articles/2018-01-15/carillion-collapse-is-a-lesson-for-britain-and-brexit

[Berlin_Freeper]

LONDON (Reuters) - Britain’s government is under pressure to explain why ministers awarded construction company Carillion 1.3 billion pounds ($1.8 billion) of new contracts after it was known to be in financial difficulty.

Britain’s opposition Labour and Liberal Democrat parties called for an investigation into the government’s dealings with Carillion before the company collapsed.

[Berlin_Freeper]

Labour Party leader Jeremy Corbyn argued that public service contracts should have never been awarded to private companies in the first place.

In a video posted on Twitter, Corbyn called Carillion's collapse a "watershed moment," adding that it was time to "end the rip-off privatization policies that have done serious damage to our public services and fleeced the public of billions of pounds."

[tired&retired]

I guess they were NOT to big to fail!!!

[ridesthemiles]

“Rewarded for failure”—a perfect description of welfare.