Peter Gibbons (Livingston) is deeply unhappy at his job, his girlfriend's cheating on him, same as most other movies in this mould - until he sees a hypnotist who puts him in a state of contentment, before he snuffs it. Peter is now free to speak his mind at last and live each day without thinking of the consequences - but can he get through the first day without being fired?

Peter and his pals panic when the trojan they planted in the banking system pays them out overnight, and not over many years as planned.  After a little research into the type of fraud they have committed, Peter decides to own up to the crime and do his time.

First he meets Jennifer Aniston who has moved up in the world of waitressing, and she forgives him for his jealousy. Then, with his confession letter ready, he goes to work after-hours and plants it under the boss's door.

Next day he packs his things and says goodbye to his neighbour - but at the business park the Initech building is on fire with crowds standing around and watching the show.  Yep, Milton finally snapped, and he makes hsi way out through the crowd unnoticed.

Cut to a little in the future and Peter has joined his neighbour on a construction team, and seems to be enjoying life again.
  Milton meanwhile is at a luxury resort and has pocketed the money that Peter left with the letter. He picks a fight with the waitor when he gets his order wrong, and threatens to burn the place down.