New York City lawyer Heather Eisenlord chose to take her employer's cost cutting offer of an $80,000 payment for a year of "vacation." Skadden, Arps, Slate, Meagher & Flom offered reduced wages (one third of their base salary) to 1,300 employees, if they took a year off from work. 125 employees are considering the offer.The New York Times: $80,000 for a Year Off (April 12, 2009)
Colleague's Plans
Eisenlord and her colleagues are encouraged, but are not required, to perform pro bono work while taking their year off. Some employee plans, for those who take the offer, include working in the legal field, caring for family members, travel, completion of a Ph.D. and spending time with their families. The employees who choose the offer have been told that they will not be subjected to layoffs, if they occur while they are off work.
References
Fast Facts
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Fact:
Employed by Skadden, Arps, Slate, Meagher & Flom
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Age
36
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Fact:
Prior to the company offer, worked for the firm's banking group
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Fact:
Has been employed by the company for six years
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Fact:
Plans to travel around the world, visiting at least 15 locations
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Education
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Fact:
Is a practicing lawyer, earning approximately $240,000
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Fact:
Plans to do some legal work without pay, teach English to Sri Lankan monks and work towards introducing solar power to areas of the Himalayas
