From the TUC

Cuts have early impact on private sector

26 Jun 2010, by Guest in Society & Welfare

In an early indication of how the cuts announced in the Budget are going to cause trouble in the private as well as the public sector, a social housing maintenance company, Connaught, has issued a profits warning which led to a severe drop in its share price.  A similar company, Mears, also saw its share price hit. As the FT reports, the notion that such outsourcing companies might pick up extra business because they offer cost-savings to local authorities isn’t being bought by the markets.

4 Responses to Cuts have early impact on private sector

  1. Tweets that mention Cuts have early impact on private sector | ToUChstone blog: A public policy blog from the TUC — Topsy.com
    Jun 26th 2010, 9:54 pm

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  2. The cuts and the private sector | ToUChstone blog: A public policy blog from the TUC
    Aug 1st 2010, 4:00 pm

    […] the social housing services provider, was one of the first to be hit, issuing a profit warning, followed by a drop in their share price. Recent reports have warned that the FTSE 250 company is […]

  3. How the Coalition’s cuts are hitting the private sector | Liberal Conspiracy
    Aug 3rd 2010, 12:18 am

    […] Connaught, the social housing services provider, was one of the first to be hit, issuing a profit warning, followed by a drop in their share price. Recent reports have warned that the FTSE 250 company is […]

  4. Just been reading this any comments? « Swinton South Liberal ————
    Aug 4th 2010, 3:28 pm

    […] the social housing services provider, was one of the first to be hit, issuing a profit warning, followed by a drop in their share price. Recent reports have warned that the FTSE 250 company is […]