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British Telecom offers staff a year at home for 75% pay cut

British Telecom offers staff a year at home for 75% pay cut
AFP
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First Published: Sat, Jul 04 2009. 05 26 PM IST
Updated: Sat, Jul 04 2009. 05 26 PM IST
London: British Telecom (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% pay cut, the telecom operator said on Saturday.
Staff have also been offered a one-off payment of $1,633 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 $125 million in the year to March.
Its latest move comes after British Airways convinced some of its staff to work for free.
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First Published: Sat, Jul 04 2009. 05 26 PM IST
More Topics: British Telecom | BT | Salary | Jobs | Telecom |