Home Telecoms & NBN NBN Co: the money is good, the results aren't
NBN Co: the money is good, the results aren't Featured

The NBN Co pays its staff handsomely, figures revealed ahead of Senate estimates hearings last week show, with 8% of its 6044 staff taking home more than $200,000.

The Australian reported that 2% of NBN Co employees pocket about $300,000 per annum, while the chief executive Bill Morrow has to make do on $3.56 million.

By comparison, Australia Post told Senate estimates that 0.8% of its employees were paid more than $200,000 per annum.

In terms of numbers, that means more than 480 NBN Co employees get pay packets of more than $200,000 each year while 120 earn packages of more than $300,000.

Another six senior NBN Co executives were earning more than $1 million a year.

On its website, the NBN Co has a long list of comments made by Morrow to the Sanate estimates. However, there is no mention of the salaries paid to staff.

In its latest results, the company announced a loss of $3.3 billion for the nine months to March 2018.

This was up by $1.2 billion, with the loss in the nine months for the previous financial year being $2.7 billion.

The report cited an NBN Co spokesman as defending the salaries paid out, saying: "“To meet our operational goals, NBN Co has recruited highly experienced engineers, project managers, IT engineers, business managers, lawyers, marketers, human resources, and account executives."

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has the high potential to be exposed to risk.

It only takes one awry email to expose an accounts’ payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 Steps to Improve your Business Cyber Security’ you’ll learn some simple steps you should be taking to prevent devastating and malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you’ll learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

10 SIMPLE TIPS TO PROTECT YOUR ORGANISATION FROM RANSOMWARE

Ransomware attacks on businesses and institutions are now the most common type of malware breach, accounting for 39% of all IT security incidents, and they are still growing.

Criminal ransomware revenues are projected to reach $11.5B by 2019.

With a few simple policies and procedures, plus some cutting-edge endpoint countermeasures, you can effectively protect your business from the ransomware menace.

DOWNLOAD NOW!

Sam Varghese

website statistics

A professional journalist with decades of experience, Sam for nine years used DOS and then Windows, which led him to start experimenting with GNU/Linux in 1998. Since then he has written widely about the use of both free and open source software, and the people behind the code. His personal blog is titled Irregular Expression.

 

Popular News

 

Telecommunications

 

Sponsored News

 

 

 

 

Connect