'Our relationship is strong with Facebook' - CPL chief reports no negative financial impact following Channel 4 documentary
CPL hasn’t seen any negative financial impact from a documentary highlighting issues relating to content moderation for Facebook by CPL staff, according to chief executive Anne Heraty.
Speaking at CPL’s agm today, chief executive Anne Heraty said CPL’s business had continued as usual and that it still had the contract with Facebook.
She said the company had incurred costs because of a review of the matters raised in the Channel 4 documentary but that these were considered part of the normal cost of business.
“Our relationship is strong with Facebook and we continue to work with them to make sure that our content moderators are doing the best possible job,” she said.
The documentary focused on practices regarding the removal of inappropriate content.
CPL, which provided content moderation services, said it had taken “immediate action” to address the issues raised. Ms Heraty said today that the issues had been “dealt with”.
The company announced at the agm that Elaine Coughlan, a well known partner at Irish venture capital firm Atlantic Bridge, was joining CPL’s board.
It also said it expects to outperform market expectations slightly in the coming months.
It had record revenues last year of €522.7m, with profit before tax rising 18pc to €18.5m. CPL has two divisions, the larger focusing on so-called “flexible talent” which includes temporary recruitment and providing services like Facebook content moderation.
The other division is focused on permanent recruitment.
“The group has had a good start to the new financial year. Our flexible talent division continues to grow at pace as our business model evolves to meet shifting workforce preferences and a strengthening demand for more flexible talent solutions,” chairman John Hennessy told the meeting.
“Our permanent division is performing in line with expectations. Overall economic indicators today remain positive, and we expect to perform slightly ahead of current market expectations in the months ahead.” Mr Hennessy said the company was continuing to evaluate organic growth opportunities as well as potential acquisitions.
Ms Heraty told reporters after the meeting that wage inflation was “starting to creep into the economy...particularly in sectors where skills are in short supply”.
She said the company had “probably had a slight bounce from Brexit, particularly in terms of some of the companies that are relocating to Ireland.”
“The other way Brexit impacts us is obviously we’ve a business in the UK economy so anything that impacts their economy will have a potential impact on us.”