Second Richest Man Work-Week Hoax

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carlos-slimMany news outlets are suggesting that Mexican billionaire Carlos Slim made comments about a three-day work week.

The Financial Times reported that in a speech at a conference in Paraguay, Slim advocated a radical change in the typical five-day work week.

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What he really said is shocking to say the least…

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“People are going to have to work for more years, until they are 70 or 75… perhaps 11 hours a day,”

The telecom company that has made him the world’s second richest man by some estimates, now can retire before they are 50 years old in some cases.

Employees in Mexico work more hours than their counterparts in any other country, according to a study by the OECD, an international economic forum. The study shows workers there work 2,317 hours a year, or 44.6 hours a week, compared to an average of 1,798 hours a year in the United States.

For U.S. workers, the 40-hour, five-day work week became the standard in 1938. Despite gains in productivity and predictions of a significantly shorter work week that would follow, it has remained the standard for more than 75 years.

The idea of working a compressed work week is popular with employees. A 2008 survey of workers by the Families and Work Institute found that 46% of those offered the option of a compressed week chose to work it at least some of the time. Of those who are not offered the option, 59% would like the option of a shorter work week.

The Mexican billionaire stands on his opinion that people everywhere should be working more, not less.

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