Carillion collapse raises job fears

[nitpicker]

http://www.bbc.com/news/business-42687032

Carillion collapse raises job fears

38 minutes ago

Construction giant Carillion is to go into liquidation, threatening thousands of jobs. The move came after talks between the firm, its lenders and the government failed to reach a deal to save the UK's second biggest construction company.
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Its failure means the government will have to provide funding to maintain the public services run by Carillion. "All employees should keep coming to work, you will continue to get paid. Staff that are engaged on public sector contracts still have important work to do," said government minister David Lidington.
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The company has 43,000 staff worldwide - 20,000 in the UK. It is not clear yet how those staff will be affected. Carillion also employs thousands of smaller firms, who will be keen to know how they are affected by its collapse.

Some of Carillion's contracts will be taken on by other firms and some could be taken back into the public sector.
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[nitpicker]

1. Live BBC business reaction

http://www.bbc.com/news/live/business-42662085

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Posted at 5:57

Building firm hit by Carillion collapse

Speedy Hire, a provider of equipment and support for construction companies, has seen its shares fall by more than 8% after Carillion's collapse. Carillion is one of the company's biggest clients, and its demise has left Speedy Hire heading for its biggest share price fall since 2015.

Analysts at stockbroker Liberum said the news was "unhelpful but not as bad as feared" for Speedy Hire. That's because investors expect Carillion's partners to take on much of its workload, they said.
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Posted at 5:44

'Massive knock-on effects'

Labour's shadow business and trade minister echoes concerns about the hundreds of small businesses who rely on work from Carillion...

Bill Esterson Retweeted FSB

Massive knock on effects through supply chain and impact on smaller firms. If Carillion’s suppliers aren’t paid, they will go bust too with the loss of thousands of jobs
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