Labor Waste

 An overly expensive network run by fat cats:

THE cost of salaries for employees of the controversial National Broadband Network has hit $132 million a year, despite the fledgling company servicing just 561 customers. NBN Co executives are on massive packages with 34 senior staff taking home between $300,000 and $400,000 a year – putting some of them ahead of Prime Minister Julia Gillard and Premier Barry O’Farrell.

Another 13 earn more than $400,000, including four executives on more than $700,000 a year for the $36 billion project overseen by Communications Minister Stephen Conroy.

NBN Co chief Michael Quigley earns more than $1.8 million a year.

And despite the massive salaries, the NBN has just 561 customers across the entire country, with revenue of only about $3 million.

By the end of June NBN Co is expected to have 1000 staff – almost two employees for every customer.

“The NBN is paying the highest salaries in the industry,” the Opposition communications and broadband spokesman Malcolm Turnbull said yesterday.

“I have heard so many stories in the industry of people being lured from (other) employers with pay rises of 50 to 100 per cent.”

Read the rest here: Australian taxpayers’ latest NBN horror show | thetelegraph.com.au.

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