So if the company you worked for said “you can take a massive holiday but less pay” what would you do?
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? BT have just come out and said how much profit that they have lost this year, in-fact they have a lost a massive 1,3 billion pounds. 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? Some people will be able to spend time with the family. It is also voluntary, so employees don’t have to take any of the options up. This also means that some can embark on some very long trips or soul searching holidays. 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. What are the main consequences that BT could be facing with this? 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.