THE TELEGRAPH: BT has offered tens of thousands of its employees the chance to go on long-term holiday in return for taking a drastic pay cut.
The former state telecoms company - one of Britain's biggest private employers with 106,000 staff - is trying to save money as it struggles to cope with the impact of the recession.
BT has proposed that employees take up to a year off, in return for taking a 75 per cent pay cut. To encourage as many workers to take up of the offer, the company will pay their reduced salary as an upfront cash payment.
It is also offering staff a one-off payment of £1,000 if they switch from full-time to part-time work.
Parents are also being offered the opportunity to work only in school term times, so they can spend the summer holidays with their children.
The radical proposals - leaked to The Daily Telegraph - are the latest example of the private sector having to adopt increasingly desperate and inventive measures to tackle the recession by cutting costs without sacking staff.
British Airways last month asked thousands of its staff to work for free during the summer, and to switch to part time hours. Many car manufacturers have sent workers home on half pay for months at a time. >>> Rupert Neate and Harry Wallop | Friday, July 03, 2009
