the void

share-collapse1A damning documentary exposing the shoddy behaviour of Maximus and the welfare-to-work sector in Australia could lead to a drop in the company’s share price according to one stockmarlet analyst.

The programme, produced by ABC (and still viewable here), tells a story which will be familiar to all those in the UK forced to attend outsourced schemes such as Iain Duncan Smith’s Work Programme.  Claimants had their benefits stopped for no reason, signatures on paperwork were faked and the most marginalised claimants were parked – meaning abandoned completely by the companies who saw no profit in helping them.  Maximus dominate the welfare-to-work sector in Australia, and have several contracts running similar schemes in the UK.

According to an analyst on finance website Seeking Alpha, Maximus earn 10% of their revenue in Australia and that could now be under threat due to a ‘short term negative news cycle’. …

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