Telecoms company BT Group PLC has a different plan for its staff. It will offer a year off work if the employees take a 75 percent cut in that year’s pay.

BT has about 100,000 employees and is one of Britain’s biggest companies. The company posted 1 billion pounds ($1.6 billion) net loss for the first three months of 2009 and so is trying hard to cut costs.

According to the company, it will pay the remaining quarter of the salary upfront to employees who take this offer. It is also offering incentives to employees to work part-time.

With this strategy BT expects to cut 15,000 jobs in the next year.

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