Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Telefonica to offer employees four-day work week, widening pilot project

Stock Markets Jun 08, 2022 14:30
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: A man speaks by a mobile next to Telefonica's tower in Barcelona January 30, 2013. REUTERS/Albert Gea

MADRID (Reuters) - Spanish telecom giant Telefonica (BME:TEF) will offer its employees the opportunity to work a four-day week, extending a pilot programme that has involved around 150 workers so far, three sources familiar with the matter said on Wednesday.

In exchange for a 12% pay cut, the deal would let staff work four days, or 32 hours, a week instead of 37.5 hours now, on a voluntary basis, a union source said.

The pilot project was launched in 2021 as part of wider negotiations with unions in the aftermath of the coronavirus pandemic, and will now be available to around 17,000 employees from September, the sources said.

A shorter working week has been debated for a while in Europe and gained momentum during the pandemic, with some pilot projects envisaging no pay cuts, just a pledge to maintain the same level of productivity as during the five-day week.

A maximum of 10% of employees in each Telefonica unit can join the programme. Initially, employees who apply now can join the plan during the last quarter of 2022, the sources said, but the company and the unions are discussing its annual extension.

Telefonica declined to comment.

The telecoms operator also allows two days of remote working a week, which employees can accumulate and use flexibly if their supervisor agrees.

Telefonica to offer employees four-day work week, widening pilot project
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email