Massive Losses Prompt BT to Take Drastic Measures, Offers Staffs a Year Off
Some 15, 000 employees of Britain’s BT Group PLC, the largest telecoms company in the country, will be out off job in 2010.
To avoid such scenario, the company has offered them to take a year off while receiving one quarter of their salary.
United Kingdom’s largest Telecommunication Company, BT Group PLC, recent announced losses of nearly $1.6 billion in just the first three months of 2009. To avoid massive layoffs in 2010, the company has offered its staff alternative solution to the problem by taking a year off work while still getting one quarter of their salary.
In a statement issued over the weekend, BT said that those who will grab the company’s offer will still have their quarter salary, which will be paid in bulk.
They can also avail of incentives from the company plus they can still work part-time for that particular period.
The company said that it is trying to cut cost following a disappointing year. With more than 100, 000 employees in its arsenal, BT Telecoms is one of the country’s largest employers.
The company also said that some 15, 000 jobs will be loss by next year if it will not push through with the cost cutting.
BT is not the first British company to implement such measures. Earlier, the British Airways also announced that it will trim its payroll following a steep drop in ticket sales due to the ongoing economic recession.
The airline company has asked its staffs to take a month of unpaid leave or work without pay for a period of one month. To date, according to the company, some 7, 000 of its 40, 000 strong has agreed with the offer.
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