If the proposal is approved when it is voted on at the company's annual general meeting, staff could be offered as much as 20% off Lastminute.com shares.
The company's share price currently stands at 33p, having fallen from a high of £5 in April 2000.
"The new savings scheme will allow all eligible employees to save from their salary to buy shares in the company on potentially favourable terms," the company said in a statement.
In November, Lastminute reported widened 2001 pre-tax losses of £39.1m for the year to September 30, compared with £35.8m a year earlier.
The company's annual general meeting will take place on February 14.
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