Atom Bank introduces four-day working week

Atom Bank has become what it describes as the largest company in Britain to introduce a four-day working week.

All of its 430 employees will benefit from the reduced hours, with no reduction in salary, said the app-based bank.

The FinTech’s new working week began at the beginning of this month, with the majority of employees choosing to adopt the new work format.

The move means employees can work 34 hours across 4 days compared to their former 37.5 hour five-day week.

“The five day week was popularised in the US by carmaker Henry Ford in the 1920s, and it was formally adopted throughout the country during the Great Depression,” said Mark Mullen, chief executive, Atom. “In the UK, Boots the chemist officially adopted the five day week in 1934 after it was found to increase productivity and employee wellbeing, with the rest of the country following suit.”

Mullen added: “We believe the 20th century concept of a five day week is, in many cases, no longer fit for purpose for 21st century businesses. Its introduction originally allowed for the establishment of the weekend, with all the benefits for employees this entailed. At Atom, we feel the time is right for the next evolution in the world of work.”

Mondays or Fridays are expected to be the default days off for the majority of employees, except for those working in operational and services roles whose day out of the office may vary.

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