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22 February 2025

Carlos Slim Opposes 40-Hour Workweek Proposal

The Mexican billionaire suggests alternatives amid labor reform discussions.

The debate over the proposal to reduce the workweek from the current 48 hours to 40 hours has ignited significant interest and controversy across Mexico. This initiative is aimed at enhancing worker well-being, promoting improved work-life balance, and providing two days off each week. With Mexico ranking as one of the countries with the heaviest work hours, as noted by the OECD, the discussion appears even more pertinent.

Notably, not everyone agrees with the potential reforms. Carlos Slim, one of Mexico's most powerful businessmen and owner of major companies such as Telmex and América Móvil, has publicly opposed the reform. Instead of reducing hours, Slim advocates for implementing three 12-hour workdays, allowing workers longer breaks during the week. He posits this change would improve overall efficiency.

During remarks made at the inauguration of the Tulum International Airport, Slim expressed his concerns, stating, "It is preferable for people to work 48 hours and earn more than to work 40 hours and earn less. This is very important for the population: to have higher income and greater purchasing power." His argument centers around the notion avoiding income reduction is key for maintaining purchasing power for the working class.

Slim's stance has come under heightened scrutiny as discussions continue on what the working week should look like moving forward. His preference for longer hours, paired with higher income, sharply contrasts with proposals emphasizing shorter, more flexible working hours.

Adding another layer to this discussion, the political party Movimiento Ciudadano has introduced new labor reform legislation aimed at phasing the proposed reduction to 40 hours over two years. This initiative seeks to align the transition to shorter weeks with the economic adaptations businesses would need to accommodate such changes.

The immediate roadmap, if accepted, would see incremental adjustments taking effect over two years. Initially, companies would have one year to make necessary operational changes without negatively impacting their productivity. Consequently, for the first year after the legislation is enacted, employees would work half-days on their sixth workday. By the second year, Mexican workers would be granted two full days of rest each week after completing five days of work.

This gradual approach signifies cautious optimism among proponents of the reduction, recognizing both the benefits and potential vulnerabilities associated with such transitions.

Currently, there lies significant division among legislative concerning the adoption of these proposals. While some echo support for the enhanced work-life balance, others, like Slim, voice strong concerns over potential financial impacts on workers.

Debates surrounding these proposals highlight the complex interplay between employee rights for well-being and the economic realities of maintaining productivity and competitive advantage. With differing perspectives, the future of the workweek reform is uncertain, teetering between potential implementation and staunch opposition.

The fate of this proposed reform remains to be seen, as discussions continue across political circles and among advocacy groups who champion for improved conditions for workers. The responsibility now rests on lawmakers to navigate these challenges carefully, addressing the needs of constituents alongside the demands of business leaders like Slim.

Conclusively, the tension between traditional working norms and new expectations for labor rights is palpable and deserves attention as the country inches toward decisions with long-lasting ramifications for its workforce.