Shortened workweeks and sabbaticals options to prevent layoffs
Global accountancy firm KPMG has asked its 11,000 British staff if they would switch to a four-day week or take a sabbatical to help avoid layoffs.
The London-based company said it asked workers to volunteer for a shorter workweek or a sabbatical of between one and three months on 30 per cent pay.
The measures are part of a contingency plan that would help the company cope with the worst economic turmoil in years, said a KPMG spokesman.
"We have got no plans to immediately implement this," said the spokesman. "We are creating a pool of people who said they would be willing. If the need arises in the future and the market deteriorates, then we would be in a position to put some of these plans in place to manage costs."
The company has not said how many staff it would allow to take part in the scheme.
The economic downturn has cut the amount of advisory work for professional services firms around the world.
In Britain, dozens of large companies have laid off staff to reduce costs. Car maker Nissan, retailer Marks & Spencer and phone giant BT Group have all announced job cuts. The Centre for Economics and Business Research, an independent consultancy, estimates 28,000 financial services jobs were lost in London in 2008.
Reuters
