BT offer employees longer time off, but at a price!

If you were given the option – take a pay cut and receive long holidays, would you take it?

 

Well BT have come out and said that this is what they are going to be offering their employees. Basically if the employees want they are being given the chance to take a 25% stake of there annual wages and keep it for the rest of the year, but they wont receive any more, they will then have the rest of the year as time off. Another option that is really being pushed forward is to ask some employees to take a one thousand pound lump sum and then go part time for the rest of the year.

 

So what’s spurred this on? Well basically BT has announced they have made over a whopping 1 billion pounds loss in the first three months of this tax year. It would appear that they think by cutting the costs of wages to their 100,000 employees that they could save a little bit of cash before getting into serious trouble.

 

So looking at this in a positive light, what do the employees get out of this? Taking the time to be with the family will be nice, especially if the spouse is working, you will still have some income. The other thing that they do mention, is that nobody will be pushed or forced into taking these options. Many people will like to take this opportunity to just have a gap year, maybe go on a round the world trip working in pubs and bars. Relaxing St Lucia holidays or Egypt Holidays.

 

However there are problems with this as well, people wont be able to afford to go on any of these holidays. However people with children although may be able to spend more time with the family, they will find it hard to cope without the spending money. It is surely debatable about whether or not this is a good strategy? Personally I believe that BT needs to find other ways of sorting out the business instead of letting its employees take the fall.

 

However if you are one of the lucky ones who can still afford Caribbean holidays, then you may as well enjoy the break.

 

« Target Brand Name With Promotional Merchandise | Home | Patrons should never be neglected »