World's 2nd-Richest Man Wants a 3-Day Work Week
But people should work into their 70s, Carlos Slim
By Rob Quinn, Newser Staff
Posted Jul 21, 2014 8:33 AM CDT
Updated Jul 26, 2014 7:21 AM CDT
Carlos Slim arrives to inaugurate the Inbursa Aquarium in Mexico City earlier this year.   (AP Photo/Rebecca Blackwell)

(Newser) – People are working too many days but not enough years, according to the world's second-richest man. Mexican telecommunications tycoon Carlos Slim says it is time for a "radical overhaul" that would result in people working just three days a week but postponing retirement until their 70s, reports the Financial Times. "With three work days a week, we would have more time to relax; for quality of life," he told a recent business conference in Paraguay. "Having four days [off] would be very important to generate new entertainment activities and other ways of being occupied."

Slim, who has a fortune estimated at $80 billion but was overtaken as world's richest man by Bill Gates last year, says current retirement ages were introduced when life expectancies were lower and should rise to 70 or 75. At his Telmex phone company, workers who joined the firm in their teens can retire by the time they hit 50, but a new contract offers them the chance to keep working beyond retirement age for full pay with a workload of four days a week, the Guardian reports. The tycoon himself is 74 years old and shows no signs of planning to retire.

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Showing 3 of 142 comments
mik3ymomo .
Jul 27, 2014 1:45 AM CDT
Join a Union, its the same thing
dhatty
Jul 26, 2014 5:36 PM CDT
So how will the world be more productive and support more upward economic mobility when people only work 3 days a week? Either a company is paying someone not to work 4 days a week, or the employee gets paid less for les work, and they cant support themselves. This is the stupidest idea yet, edging out the nearly just as stupid idea of paying entry level burger flippers $15 per hour.
evam
Jul 26, 2014 5:02 PM CDT
This person is a Mexican telecommunications tycoon worth 80 billion dollars????? I say STOP with the insanity and help your own that are fleeing your country for a better life elsewhere....that would be a true "radical overhaul."