World’s Second richest man, Carlos Slim introduces three-day workweek

The second richest man in the world, Carlos Slim, chairman emeritus, América Móvil, wants his employees to work for just three days a week.

Slim thinks by introducing the three-day workweek, it would spur on economies with more tourism, entertainment, and culture, and encouraged other companies to follow his lead.

Slim explained why everyone should work less and take more time to relax in an interview he granted Bloomberg Businessweek.

He said, “Historically, the more technology advances and the more progress there is, people work less.

“I think they should work three days a week, so that it creates space for others.

“The quality of life and having four days a week free would encourage a lot of economic activities – more tourism, entertainment, sports, culture, and education.”

However, Slim said working for three days in a week comes with a price. The employee will have to work more time before retirement.

When he was asked if people would earn less this way, he said, “No, I think the companies that can take this on are those in which productivity has led to excess personnel. It’s a great change to exchange fewer days of work for more years until retirement.”

He however argued that the scheme would tackle unemployment due to the increase in size of the workforce, while people retiring later would mean companies could rely on the wisdom and experience of older workers.

Slim said they started the scheme in Telmex [América Móvil’s fixed-line unit] a couple of years ago.

“We’re offering people that have a lot of knowledge to stay longer and work fewer days and about 40 pr cent accepted.”