Carlos Slim calls for three-day working week to improve quality of life

Carlos Slim

Mexican billionaire tycoon, Carlos Slim, has called for the introduction of a three-day working week, offset by longer hours and a later retirement, as a way to improve people’s quality of life and create a more productive labour force.

Slim made the comments when speaking to a business conference in Paraguay, suggesting that the workforce could be spread over a full week, with employees working up to 10 or 11 hours a day.

“With three work days a week, we would have more time to relax; for quality of life,” the Financial Times reports Slim saying.

The business conference, Growing Together – States and Enterprises, was held in Asuncion and was attended by business and political leaders from across Latin America.

“Having four days [off] would be very important to generate new entertainment activities and other ways of being occupied,” Slim said. He said current retirement ages come from a time of lower life expectancies, and should rise to 70 or 75.

Slim – routinely identified as one of the two richest people in the world – is the CEO of Telmex, a fixed phone line communications company which recently offered its employees a new form of contract.

Telmex employees who joined in their teens can access early retirement, and anyone who wants to work beyond retirement can do so at full pay but a reduced load of four days a week.

Slim, who is also the head of mining company Minera Frisco, is estimated to have a personal net worth of $80bn – around the same as Bill Gates.

Some small companies in Australia have instigated a four-day week flexible workplace policy, and advocates cite improvements in employee health and environmental impact as possible benefits.

Powered by Guardian.co.ukThis article was written by Helen Davidson, for theguardian.com on Monday 21st July 2014 08.58 Europe/London

guardian.co.uk © Guardian News and Media Limited 2010

 

Bank Workers CharityBank Workers Charity - Supporting bank workers

Register for Financial Markets News Alerts