G4S confirmed as potential supplier for DWP

G4S could be enlisted to provide support to the Department of Work and Pensions in the future if the government needs additional capacity to handle its call centres, Sharecast has learned.

G4S could be enlisted to provide support to the Department of Work and Pensions in the future if the government needs additional capacity to handle its call centres, Sharecast has learned.

A spokesman from the Department of Work and Pensions confirmed to ShareCast that G4S, the security outsourcing group, was among six companies on its list of potential suppliers although he said there was no guarantee that any of the companies would receive any work.

"Framework agreements with six suppliers will allow [the] DWP [Department of Work and Pensions] to procure contact centre requirements over the next four years, if needed," the spokesman said.

"[The] DWP's own call centres remain the primary point of contact for claimants and there is no guaranteed work for any suppliers on the framework," he added.

The inclusion of G4S among a list of prospective support providers comes five months after G4S failed to fully deliver on its Olympic Games contract.

During the Games, UK ministers had to mobilise an additional 1,200 troops which had previously been put on standby in order to supplement the security workforce deployment of the Olympic Games.

G4S's share price was up 2.68% to 257p at 11:55 on Tuesday morning.

MF

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
What does the Coinbase listing mean for bitcoin and other cryptocurrencies?
Bitcoin

What does the Coinbase listing mean for bitcoin and other cryptocurrencies?

As the bitcoin price hit new highs, the world's biggest cryptocurrency exchange, Coinbase, listed on the stockmarket. John Stepek looks at what that m…
15 Apr 2021
Lab-grown meat: how “moo’s law” will drive innovation
Soft commodities

Lab-grown meat: how “moo’s law” will drive innovation

Jim Mellon and Anthony Chow, co-founders of Aim-listed Agronomics, explain why they believe that “cellular agriculture” will benefit from massive long…
16 Apr 2021