G4S cuts 1,100 jobs after Olympics failure

LONDON (Reuters) - G4S, the company at the heart of the London Olympics security debacle, said it would cut 1,100 jobs as it looks to recover 50 million pounds ($79 million) lost on the Games contract.

G4S dominated British headlines in July after failing to provide a promised 10,400 security guards for the London Olympics, placing Chief Executive Nick Buckles' job in question and forcing him to admit the company's reputation was in tatters.