Why are Ferry Holdings Limited's forecast employee costs of $6.506 million for the twelve months ending 30 June 2027 higher than the $3.380 million incurred over the sixteen months ending 30 June 2026?

Answer

The personnel will increase as overall work activities increase, then drop again when the project is completed. This is normal. The member may have missed this, but the waste at Project iReX saw a team of over 100 people spread across two large Wellington office spaces. Of the $671 million spent on iReX, $364 million went to spending excluding ferries and built infrastructure. The public still wonders what on earth $364 million was spent on. Regarding the specific shift referenced in the question, this is part of the transition from contractors during the establishment phase to permanent employees.