Atom Bank of the United Kingdom has introduced a 'four days a week system' without any pay cuts for all employees.
Atom Bank is the first internet-only bank in the UK and is known as the business model of K-Bank and Kakao Bank.
According to foreign media such as CNN in the US on the 23rd local time, Atom Bank implemented a four-day work week for 430 employees from the 1st of this month.
As a result, the number of hours worked per week has been reduced from 37.5 hours to 34 hours, but the pay remains the same.
Employees can work five days a week if they wish, but most have been known to work four days a week, with one more day off either Monday or Friday.
Atom Bank explained that it has decided to work four days a week to improve the mental and physical health of its employees and to improve work productivity.
Atom Bank CEO Mark Mullen said in a statement, "The four-day workweek will provide our employees the opportunity to pursue their passions, spend more time with their families and find a work-life balance."
“It will take some time for our employees to adjust to the new work type, but we have not had any problems with productivity or customer service levels so far,” he added.
In fact, a study conducted in Iceland from 2015 to 2019 found that paying the same wages for a four-day week did not reduce worker productivity.
Elephant Ventures, a U.S. software and data engineering company, conducted a pilot operation in August of last year and permanently switched to a four-day work week.
Atom Bank CEO Mullon said, "The five-day workweek is a relic of the 20th century and does not fit the present age.
This is a 'news pick'.
(Photo = 'Atom bank' YouTube capture)