Photo: Youtube Screenshot
Late last week, G4S, the private security firm tasked with heading security for the London Olympics notified the British government it wouldn’t be able to completely fulfil its contractual obligations, falling 3,500 short of the approximately 13,000 personnel they were expected to provide.It was a disaster.
Today, chief executive of the company, Nick Buckles, faced the music. Buckles appeared in front of the Home Affairs Select Committee in the House of Commons to explain G4S’s failure. Expressing his deepest sorrows, Buckles admitted that the situation was a “humiliating shambles” and that the reputation of G4S was now “in tatters”, reports Sky News.
Due to provide 10,400 guards for the Games, only 4,200 are currently working, though Buckles hopes that number will reach 7,000 by the time the Games begin. Because of the shortfall, G4S stands to lose between £35 and £50 million ($54 to $78 million) from their contract, representing about 12 per cent of their annual profit, reports the AP.
The situation is so bad that the military has been brought in, and G4S has pretty much become a nationwide laughing stock.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.