Anxitey for National Programme for IT contract?

BT, the UK telecommunications group, shares fell 4.9% earlier this morning making it FTSE100’s largest dropper. This is after a weekend press report suggesting that they will take a staggering $2.2 billion write-down and there is also a possibility of 10,000 jobs being lost.

The write-down is anticipated to link to fifteen of BT’s seventeen most valuable contracts, in conjuction with millions on the £12.7 billion NPfIT (NHS National Programme for IT.)

Without much notice over the last couple of months, BT have made 6,000 redundancies containing many contractors and also for those working in the Global Services will take a pay cut of between 10-30%.

As expected BT stopped work from happening at NPfIT london base as the go-live of systems at the Royal Free in Hampstead making a wide hole of £10 million in their pockets. However, this has continued again as BT have been able to sign well-paid deals with supporting many hospitals utilizing Fujitsu’s non -profitable Cerner Millennium patient records software.

For that reason, Fujitsu and Accenture are leaving as after they paid a large amount of money into the deal, yet they are recieving way less than they should be. I wouldn’t want to do that.

Well, we will have to wait until next month’s statistics to come through and I guess we will take this topic from there.

BT majorly struck and it is shown by the gigantic fall in the FTSE100 Index