Providence Equity's portfolio company USIS, acquired in 2007 for $1.5 billion, faced massive workforce cuts after losing federal contracts due to quality failures. The company conducted background checks on Edward Snowden and the Navy Yard shooter and was accused of "dumping" incomplete cases. OPM terminated USIS's largest contract in 2014. By 2015, USIS had laid off over 2,500 employees and eventually ceased operations entirely, devastating the Falls Church, Virginia workforce.
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According to the Violation Tracker database, Providence Equity Partners-owned companies have accumulated $14.3 million in penalties since 2000, including $964,637 in employment-related offenses for wage and hour violations. The firm's track record includes banking violations totaling $13.3 million. The USIS collapse alone displaced over 2,500 workers when the company lost federal contracts and ceased operations.
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Providence Equity — Worker Treatment: OPPOSED According to the Violation Tracker database, Providence Equity Partners-owned companies have accumulated $14.3 million in penalties since 2000, including $964,637 in employment-… https://reciepts.tech/stance/1727
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See all →Providence Equity owned USIS, the largest private provider of government background investigations, receiving $253 million (67% of OPM contract spending) in fiscal 2012. USIS conducted the inadequate background checks that cleared Edward Snowden and Navy Yard shooter Aaron Alexis. A DOJ whistleblower lawsuit alleged USIS engaged in "dumping"—submitting incomplete cases as complete to meet quotas. Providence also acquired SRA International, a $1.9B defense IT contractor, expanding its government surveillance portfolio.