There's grim news at Numerica. Last week saw the resignation of chief executive Tony Sarin, which was accompanied by a warning that second-half profits for last year were unlikely to be better than the £300,000 pre-tax loss posted for the first half.
The firm announced it was to take on limited liability status and reintroduce partnerships with performance-related pay. The changes are intended to reincentivise managers to perform better and make more money.
But after last year’s aborted offers to buy Numerica, this latest change is likely, in the short term, to present another blow to morale and raise further questions over the integrator/consolidator business model. Only time will tell if the Numerica’s executives now have it right.
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