This billionaire wants you to have a 3-day work week


Posted at Jul 22 2014 03:34 PM | Updated as of Jul 23 2014 08:07 PM

Mexican businessman Carlos Slim attends the 20th annual meeting of the Circulo de Montevideo Fundation in Luque, Paraguay July 17, 2014. Photo by Jorge Adorno, Reuters

MANILA, Philippines - A three-day work week is something Mexican telecom billionaire Carlos Slim believes all employees should have.

Slim, one of the world's richest men, suggested the idea at a business conference in Paraguay.

The downside is, workers would have to put up with longer work hours, up to 11 hours a day and a later retirement age of 70 or 75.

"People are going to have to work for more years, until they are 70 or 75, and just work three days a week – perhaps 11 hours a day," he was quoted by news agency as saying.

Still Slim believes having four days off would boost productivity and improve the general quality of life.

"With three work days a week, we would have more time to relax; for quality of life. Having four days (off) would be very important to generate new entertainment activities and other ways of being occupied," he added.

Here in the Philippines, a similar proposal was floated by the MMDA in February to ease the traffic situation in Metro Manila. But the four-day work week idea was criticized by labor groups. - ANC

ANC News Now, July 23, 2014