World’s 2nd-richest man suggests 3-day work week

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NEW YORK (CNNMoney) — Mexican billionaire Carlos Slim is suggesting that workers shift to a three-day work week. The catch: He would require 11-hour work days and workers to stay on the job until age 70 or 75.

The Financial Times reported that in a speech at a conference in Paraguay, Slim advocated a radical change in the typical five-day work week.

“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,” the paper quotes him as saying.

The paper said that workers at Telmex, the telecom company that has made him the world’s second richest man by some estimates, now can retire before they are 50 years old in some cases.

But it reported that those eligible for such early retirement are given the option of a four-day work week at full pay upon reaching retirement age.

“With three work days a week, we would have more time to relax; for quality of life,” Slim was quoted as saying. “Having four days [off] would be very important to generate new entertainment activities and other ways of being occupied.”

For U.S. workers, the 40-hour,. five-day work week became the standard in 1938. Despite gains in productivity and predictions of a significantly shorter work week that would follow, it has remained the standard for more than 75 years.

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5 comments

  • Ken

    Apparently raking in billions off the “Obamaphone” program has left Slim unable to do basic math. Three 11 hour days is only 33 hours. Will this be the new “full time” week, or is Slim angling to help his best buddy Barack create a NWO work force of part-timers>

  • Ace Baily

    why not just have people stay at their work site the whole time? 11 hour work day, 2 hours each way for commute in many cases, that will certainly keep traffic enforcement busy with the ones now doing 75 mph in a 60, that will cause the wreck rate to skyrocket. law of unintended consequences will step right in, with many variables.

  • Minbari

    I guess being a billionaire makes people lose touch with reality. 11 hour days? what about people with kids? would never see them and people who have daycare wouldnt be able to find daycare that would watch them for those kind of hours.
    not to mention the fact that companies would decide you are part-time and not pay any benefits. of course you could work 4 days instead and work 44 hours. whole thing is stupid.

  • Jasmin

    Many nurses already work 3 day 12 hour shifts. I think that would be the most ideal. If only I became a nurse instead…

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