ASX cuts back on overpaid tech contractors

The Australian Stock Exchange or ASX is vowing to lessen its dependence on technology contractors and consultants, after allegations of overpayment and lengthy employment periods. 

This follows a series of complaints from insiders about the company's current staffing approach for ongoing tech projects, with some staff costing above-industry standard rates. These contractors are reportedly from non-official supplier firms and are paid daily rates significantly higher than average. 

ASX's chief information officer, Tim Whiteley, responded to these allegations, assuring that the company plans to tighten procurement protocols and optimise its workforce, particularly within their major tech upgrades. This move comes as figures from Employment Hero showed a stagnation in tech salaries and a noticeable drop in job openings. 

The drive towards having full-time employees is seen as part of the strategy to manage expenses better and ensure they are getting the right value for their investment. However, transitioning from dependence on contractors to a full-time workforce in the tech industry is challenging and is something to be watched closely.

- CyberBeat