Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Unilever to try out four-day working week in New Zealand

Published 11/30/2020, 07:12 PM
Updated 11/30/2020, 07:45 PM
© Reuters. FILE PHOTO: The company logo for Unilever is displayed on a screen on the floor of the NYSE

WELLINGTON (Reuters) - Global consumer goods giant Unilever (NYSE:UL) said on Tuesday it was poised to try out a four-day working week for all its New Zealand employees.

Unilever said all 81 staff members at its offices across New Zealand will be able to participate in the trial, which starts next week and will run for 12 months until December next year.

The employees will be paid for five days while working just four.

Unilever New Zealand managing director Nick Bangs said the aim was to change the way work is done, not increase the working hours on four days.

"If we end up in a situation where the team is working four extended days then we miss the point of this," he said.

"We don't want our team to have really long days, but to bring material change in the way they work."

After 12 months, Unilever will assess the outcome of the move and look at how it could work for the rest of its 155,000 employees globally.

"It's very much an experiment. We have made no commitments beyond 12 months and beyond New Zealand. But we think there will be some good learning we can gather in this time," he said.

There is no manufacturing in New Zealand and all the staff are in sales, distribution and marketing.

A shorter working week has been debated for a while in New Zealand with estate planning firm Perpetual Guardian making headlines last year for pioneering the idea and declaring it had seen big productivity increases.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The idea gained momentum this year when Prime Minister Jacinda Ardern encouraged firms to look at four-day weeks to offer flexibility to employees amid the coronavirus pandemic. She also said it may help boost domestic tourism while international borders remained shut.

"When the prime minister talked about it in the context of what the future of work would look like, that was encouragement for us," said Bangs.

However, the New Zealand government has not taken the idea on board in its offices yet.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.