G4S bosses barred from jollies

Under-fire Olympics security firm G4S has barred top bosses and senior executives from attending corporate hospitality jollies in light of its security fiasco for London 2012.

The group confirmed it had decided not to allow staff to host any corporate Olympic events after suffering a reputational battering following its failure to hire enough security guards, forcing the Government to step in and provide thousands of military personnel just weeks before the Games started.

But G4S, which was allowed to purchase tickets using its status as a sponsor of the Olympics, said its customers would still be able to use allocated tickets to attend.

The group's chief executive, Nick Buckles, will not be attending, it added.

G4S admitted less than a month ago that it could not provide its 10,400 contracted guards.

The military has plugged the gap left by G4S with around 4,700 troops in the last few weeks after stepping in with another 1,200 just days ago.

The total number of military personnel involved in Olympics security is now more than 18,000, including 11,000 helping secure Games venues, with the rest working in specialist roles.

Mr Buckles is fighting to save his career amid calls to resign from his £830,000-a-year job after the blunder.

In a hearing of MPs, he admitted he could not deny it was a "humiliating shambles for the company".

The group's reputation has been left in tatters and it will lose up to #50 million on the #284 million contract.

The hit represents 10% of the firm's annual £500 million profit.

G4S is the largest employer on the London Stock Exchange with more than 650,000 staff worldwide.

It was contracted to provide security staff to conduct physical searches, operate X-ray machines and carry out perimeter searches at the Games.