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Business

Crisis-hit BT offers employees 'long holidays' to cut costs

Text by NEWS WIRES

Latest update : 2009-07-04

In order to slash costs in crisis times, BT is offering employees the chance to stay at home during school holidays for less pay or a year off for a 75% pay cut, rather than make redundancies.

AFP - BT, seeking to slash costs in the face of Britain's worst recession in years, is offering employees a year at home in return for a 75-percent pay cut, the telecoms operator said Saturday.

Staff have also been offered a one-off payment of 1,000 pounds (1,167 euros, 1,633 dollars) if they agree to go part-time, a BT spokesman said.

In addition, parents are being given the option of no longer having to work during school holidays in return for less pay.

"Being one of the largest employers in the United Kingdom, I think this is an extremely progressive way of managing costs during a recessions, rather than making redundancies," the spokesman said.

BT said in May that it was cutting 15,000 jobs after slashing an identical number of positions in 2008-09 and sustaining a net loss of 83 million pounds (92 million euros, 125 million dollars) in the year to March.

Its latest move comes after British Airways convinced some of its staff to work for free.

Date created : 2009-07-04

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