Spain leads the way:
Employees of BBVA, Spain’s second biggest bank, are being offered 30 per cent of their usual salary in return for staying away from work for between three and five years. Anyone signing up to the scheme is guaranteed a job when their extended leave comes to an end. They will also have their health care costs covered for the length of their sabbatical…
Although Spanish banks have escaped the worst of the global downturn because of tight regulation, they have found it difficult to impose redundancies because staff are entitled to large payoffs under domestic labour laws.
Via Schulz at the Enterprise Blog.