Multi-millionaire brands four-day work week the ‘stupidest idea I've ever heard'

News.com.au

2 days ago

A Canadian businessman and multi-millionaire has fired up at the suggestion of a four-day work week being widely adopted, swiftly branding the idea 'stupid' during an interview.
Kevin O'Leary, known for his role as one of the investors on the program Shark Tank, didn't hold back when sharing his thoughts during a recent appearance on Fox News.
'There is a big push now for a four day work week, do you think we will become like the French?' one of the presenters asked.
The four-day work week is becoming increasingly popular in France, with the country launching it's first official pilot of the program in 2024.
In 2000, the country also legally mandated a 35-hour work week, with any hours worked beyond this considered overtime.
In 2023, the France's Labor Ministry announced that around 10,000 employees were already working under a four-day model.
France isn't the only country where the four-day movement is growing, with pilots taking place all over the world in recent years, including Australia.
However, Mr O'Leary is not convinced by the working model's increased popularity.
'That's the stupidest idea I have ever heard,' he said.
'I think we should let the French go to a two-day work week and then kick their arse internationally.'
The outspoken businessman claimed that in our post-pandemic world and new digital economy, there is 'no such thing as a work week' anymore.
But this isn't to say Mr O'Leary thinks a traditional five-day work week is the answer either, with the multi-millionaire taking a more outcome focused approach.
'Look at my staff, 40 per cent of them work remotely all around the world,' he said.
For example, if a project is due by June 15, then he doesn't care how many days a week his staff work, so long as the work is done on time.
The businessman's brutal assessment sparked a heated debate, with many defending the four-day work model.
One person claimed the 'best job' they ever had operated on a four-day work week, claiming their quality of life went up and they had time to study and upskill.
'I have a four-day work week. I can't express the difference in how much better my work week is given one extra day to decompress,' another said.
One added: 'I have been running my company on a four-day work week for a few years now. I can't imagine going back to a five-day week.'
However, there were others who agreed with Mr O'Leary's point of view.
'I couldn't agree more with you! I think that is so stupid!' one said.
'The people who want a four-day work week should start their own company,' another claimed.
Another agreed, saying the focus should be on getting the work done by specific deadlines, with less focus on how many days a week it may take to complete.
One of the common ways that companies implement a four-day week is by using the 100:80:100 model, in which staff keep 100 per cent of their pay but have their work hours reduced to 80 per cent.
However, they must maintain 100 per cent of their productivity in order for the change to work.
Other options include allowing staff to work a shorter week but for less pay, or offering standard 40 hour weeks condensed over four days.
This isn't the first time Mr O'Leary has shared his opinion on divisive workplace topics.
In August last year he raged at the Australian government following the introduction of the Right To Disconnect law.
The law gives employees the right to refuse contact outside of their working hours. Staff are not required to monitor, read, or respond to contact from an employer or third party – within reason.
The change left Mr O'Leary baffled.
'What happens if you have an event in the office and it is closed? Or you have an emergency room somewhere and you have to get of hold of them at 2am in the morning because it affects the job they are on,' he told Fox News at the time.
'This kind of stuff just makes me crazy. It is so dumb. Who dreams this crap up? Why would anyone propose such a stupid idea?'
He added that he would 'fire' an employee if they ignored his calls and didn't get back to him.
Doubling down in a lengthy post to X, Mr O'Leary wrote: 'If you can't be reached when the job depends on it, you're out.'
'Who dreams up these ridiculous ideas? If someone tells me they're in 'silent mode,' they're fired,' he said.