New Nurse Offer: 60Hr PP = FT? Is this common?

I am being offered a 60hr PP FT w/ benefits (OK, not a big deal since on husband's plan) night shift med/surg. Is this common? This equals out to 5 shifts instead of the usual 6, and is a 12K pay cut for me. I am told I can pick up, but it would not be overtime until over 80 hours. Is this common? This is the first time I've seen this.

Edit: 12 hour shifts, 3 one week, 2 the next, alternating weekends and holidays.