Have you read their multiple announcements that note initiatives...

Have you read their multiple announcements that note initiatives to materially lower opex?

Given that was commenced late last year, it should not be a surprise that the initiatives haven't yet flowed through into the numbers.

You raise a valid point that has been addressed by the business. It would have been nicer if this were commenced earlier, but I can also appreciate the balance between growing a business globally, and also ensuring you're not letting good talent go, especially when you've bought a new business.