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News.com.au
3 hours ago
- Business
- News.com.au
Multi-millionaire brands four-day work week the ‘stupidest idea I've ever heard'
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.
NHK
3 days ago
- Business
- NHK
6,000 plus foreign workers reported injured on the job in 2024
A Japanese government survey shows that more than 6,000 foreign workers died or were injured in workplace accidents nationwide in 2024, the 13th straight year of increase. The Labor Ministry says 39 foreign workers died on-the-job last year. The number of casualties among foreigners, including deaths, was 6,244. The figure increased by 572 from the previous year, for the 13th straight year. The rate of casualties from on-the-job accidents was 2.3 per thousand for the overall working population in Japan, including Japanese. The rate for foreign workers stood at a higher number of 2.71. By work category, the casualty rate for technical interns was 3.98, compared to 3.91 for people with special skilled worker status. By industry, 2,979 affected workers were in manufacturing, followed by 1,165 in construction, and 476 in commerce. By country and territory, 1,594 affected workers were from Vietnam, followed by 878 from the Philippines and 757 from Indonesia. The Ministry cites the lack of vocational experience or communication, with language barriers as apparent factors that caused accidents. The ministry is urging companies to provide their foreign workers with safety training using educational materials to teach them about workplace risks. The Labor Ministry says that as of the end of last October, more than 2.3 million foreigners, the highest number ever, were working in Japan.
Egypt Independent
4 days ago
- Business
- Egypt Independent
Egypt, Serbia discuss digital connection plan to facilitate labor mobility
Minister of Labor Mohamed Gibran and Serbian Interior Minister Ivica Dačić discussed Friday 30/5/2025 how to activate cooperation mechanisms to facilitate labor mobility and open up new markets for Egyptian workers in the Serbian market. During a meeting between the two ministers today, the two sides hailed the strategic partnership between Egypt and Serbia, which is directly supported by the political leaders of both countries, according to a press release by the Labor Ministry. The ministers discussed the implementation of a digital connection plan to facilitate labor mobility, ensure workforce sustainability, protect workers' rights. Gibran stressed Egypt's readiness to meet the needs of the Serbian labor market with a skilled workforce, congratulating Serbia on winning the bid to host Expo 2027. The two ministers also discussed a range of issues related to promoting joint cooperation, especially on labor mobility. President Abdel Fattah El Sisi and his Serbian counterpart Aleksandar Vucic witnessed the signing of some cooperation agreements after talks between the two leaders on boosting cooperation in various fields in July 2024. The deals covered the fields of trade, investment, ICT, antiquities and museums, customs, and employment.
NHK
23-05-2025
- Business
- NHK
Employment rate of university graduates in Japan hits 2nd highest in decades
A Japanese government survey shows that this year's employment rate of university graduates hit the second highest in nearly three decades. The labor and education ministries surveyed a total of 6,250 students who graduated in March from 112 universities, colleges and other educational institutions. The employment rate for university graduates as of April 1 was 98 percent. The figure was down 0.1 percentage point from a year before, when the highest employment rate since 1997 was recorded. The rate for male university students was 97.6 percent, down 0.3 points year-on-year, while the rate for female university students rose 0.2 points to 98.5 percent. The rates for graduates from colleges and technical colleges both declined by 0.4 points to 97 percent and 99.6 percent respectively. The labor ministry says companies remain aggressive about hiring amid the labor shortage in Japan. Labor minister Fukuoka Takamaro told reporters the latest employment figures indicate that a sellers' market continues. He also said the government will continue to provide support at nationwide job placement offices for those who have graduated without finding employment.
Bloomberg
09-05-2025
- Business
- Bloomberg
Japan's Wage Growth Slows, Backing Case for BOJ Caution
Growth in Japan's nominal wages slowed more than expected in March, adding to the case for the Bank of Japan to proceed cautiously with interest-rate hikes as economic risks at home and abroad continue to mount. Nominal cash earnings rose 2.1% from a year earlier, decelerating from a revised 2.7% pace in February and below a median economist forecast of 2.5%, the Labor Ministry reported Friday. Real wages continued to fall, dropping 2.1% underscoring a persistent decline in consumer purchasing power, though separate spending figures showed robust household spending in March.
