Billionaire suggests 3-day work week

What if you only worked 3 days a week? 

What if you only worked 3 days a week?

Mexican billionaire Carlos Slim is suggesting that workers shift to a 3-day function week. The catch: He would call for 11-hour operate days and staff to remain on the work till age 70 or 75.

The Financial Times reported that in a speech at a conference in Paraguay, Slim advocated a radical alter in the typical 5-day operate week.

“Men and women are going to have to operate for far more years, until finally they are 70 or 75, and just operate 3 days a week — probably 11 hrs a day,” the paper estimates him as saying.

The paper stated that employees at Telmex, the telecom firm that has made him the world’s second richest man by some estimates, now can retire ahead of they are 50 years outdated in some cases.

But it reported that those eligible for this kind of early retirement are offered the option of a four-day operate week at total pay out upon reaching retirement age.

“With three work days a week, we would have far more time to loosen up for good quality of existence,” Slim was quoted as saying. “Possessing 4 days [off] would be quite essential to make new enjoyment pursuits and other techniques of being occupied.”

Workers in Mexico work far more hours than their counterparts in any other country, in accordance to a study by the OECD, an global financial forum. The research displays workers there operate two,317 hours a yr, or 44.six hrs a week, compared to an typical of one,798 hrs a yr in the United States.

For U.S. staff, the forty-hour, 5-day perform week became the common in 1938. Regardless of gains in productivity and predictions of a drastically shorter perform week that would stick to, it has remained the regular for much more than 75 years.

But although that has been the most widespread arrangement for total-time U.S. employees, 43% of employers offer you at least some staff the option of a compressed function week, according to the the newest survey of the Society for Human Resource Management. That is up from 38% in the earlier survey 6 many years ago.

The survey also identified 1 in 10 supply the option to all or most of their personnel. Smaller organizations with fewer than a hundred staff are a lot more likely to provide the selection than big employers with far more than one,000 workers. People employers enable total-time workers the option to perform longer days for component of the week in exchange for one particular brief day or a day off each and every week or shell out time period.

The idea of working a compressed perform week is common with staff. A 2008 survey of staff by the Households and Operate Institute identified that 46% of these offered the choice of a compressed week chose to work it at least some of the time. Of these who are not supplied the option, 59% would like the selection of a shorter function week.

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