Holidays of a lifetime at BT?

This mornings BBC news reported that BT are offering staff who agree to take a year off a quarter of their salary. Additionally parents can take unpaid leave during school holidays and a thousand pounds will be paid to employees who transfer from full to part time work. The "Time Out Options" project takes place against the background of the economic slowdown, first quarter losses of £1.3 billion and plans for a further round of 15000 job cuts over the next 12 months. I'm sure our negotiators will respond in due course.