THE Financial Times is cutting staffing costs by offering employees the chance to work fewer hours over summer, including a three-day working week option.
The FT has launched the "global voluntary scheme" offering staff flexible working options as part of a plan to help ride out the worst of the media downturn.
Options include working a three- or four-day week between June and August, an option to buy an additional seven days leave and to extend annual leave at 30% pay with a minimum booking period of two weeks.
In a document to staff outlining the options the FT pushed the flexible options with a series of questions.
"Do you fancy spending more time with your family over the summer months? Have you been meaning to book that trip of a lifetime? Would you like to improve you work-life balance in 2009?
"If the answer is yes to any of the above questions, the FT may be able to assist," said the document.
"The options are part of our ongoing efforts to ensure we have the flexibility to respond positively to the changing market," said Aimee Watson, the human resources manager in global human resources at the FT in an email.
"We believe that this is a creative way to help the company reduce costs and retain talent, whilst giving employees the opportunity to take more time off."
The email said applications will only be considered where there is a "clear business rationale", and that taking advantage of any of the flexibility options "will have no negative consequences for your future employment".
Earlier this month FT journalists voted to hold a ballot on strike action in a bid to stave off compulsory redundancies among the 80 positions being cut.
In December John Ridding, the Financial Times chief executive, said plans were being put in place to cut costs which would include offering staff the opportunity to work less.