adminloss on the contract.
The world’s No. 1 security firm said just weeks before the Games began that it could not provide all 10 400 guards needed for the event, forcing the government to call on military and police personnel to cover the shortfall.
G4S, which had to explain its failure to parliament and saw two directors resign after an internal report into the affair, had estimated the loss on the contract, worth about 240 million pounds, to be about 50 million pounds.
The firm, which has incurred penalties and paid for the emergency staff that were drafted in, said the difference was largely due to it waiving a larger chunk of its management fee.
“The UK Government is an important customer for the group, G4S Chief Executive Nick Buckles said. – Eurosport.
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