Mexican Businessman Carlos Slim Calls for a Shorter Work Week and Delayed Retirement
In a recent statement made in Avilés, Mexican businessman Carlos Slim proposed implementing a twelve-hour work day, three days a week, and delaying retirement until the age of 75. The purpose behind this suggestion is to accommodate a greater number of workers in the labor market.
Slim expressed his views during the XXVIII Plenary Meeting of the Círculo Montevideo Foundation, in which he is actively involved. When asked about his opinion on the reduction of working hours proposed by the PSOE and Sumar Government agreement, Slim labeled the idea as “nonsense.” Instead, he stressed the importance of working three days a week, with increases in working hours, to allow room for other individuals to work on the remaining three days. Additionally, he suggested increasing the retirement age to 75 instead of the current 65 or 60.
Explaining his rationale, Slim pointed out that people are living longer, and the burden on social, pension, and retirement policies is becoming increasingly unsustainable for governments worldwide. To alleviate this pressure, he believes that retirement should occur later in life. Slim emphasized the need to integrate the entire population into the labor system and combat poverty as the best investment for society. By reducing working hours for some individuals, more opportunities will be created for others in need of employment.
Slim also acknowledged the potential challenges posed by artificial intelligence (AI) in terms of employment. He suggested that the increased productivity brought about by AI would necessitate working fewer days but longer hours, and for more years. This, in turn, would generate new demand for activities like entertainment and sports.
Regarding ongoing war conflicts, Slim expressed his view that such situations are irrational and should be avoided.
Carlos Slim’s proposal for a shorter work week and delayed retirement has sparked discussions about work-life balance and the future of work. While some welcome the idea of a reduced workload, others raise concerns about the potential impact on productivity and income levels. As the topic continues to be debated, it remains to be seen how these suggestions will be received and whether they will gain traction in the labor market.