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I believe your company may be referring to a co-operative education plan. Some good schools offer this plan. Basically you get to do a normal on-campus semester and then a semester of work in a field that has to do with your major. And it rotates like this. It's a great plan if you can get into one. You get to make good money working, get experience in the field, find-out if that's what you really want to do, and network, as well as get your degree.
Think about this, the average "4 yr" university requires 120-124 units of credit for a BA, around 138-140 for a BS, which if you take 12 units a semester(full-time) will take you 5 to 6 yrs to complete. If you can do the co-op, it will still take a while, but you get the work experience and the money. Great deal.
Polarbear's right, there's no guarantee a degree will get you a good job, but it sure doesn't hurt.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.