Last Updated 8 months by Amnon J. Jobi | Amnon Front Page
Greece rolled out a limited six-day workweek this month as it tries to boost its economy.
Starting in July, some 24-hour industries in Greece may allow employees to choose to work up to 48 hours per week instead of a maximum of 40. Workers who exceed the 40-hour threshold make an extra 40% in overtime pay.
Greek Prime Minister Kyriakos Mitsotakis characterized the change as “growth-oriented.” The change is also meant to reduce tax evasion that results from undeclared work.
Following the global financial crisis in 2007-2008, Greece experienced a sovereign debt crisis that led to austerity measures, higher taxes and ultimately bailout loans from the International Monetary Fund and the European Central Bank.
Now, Greece’s workweek change trends it opposite of some other economies in Europe and the United States, which have taken some steps toward a four-day workweek.
Vermont Sen. Bernie Sanders, for example, proposed legislation this year that would amend the Fair Labor Standards Act to define a workweek as 32 hours.
And in a recent survey of American CEOs, 30% said they were “exploring new organization-wide work schedule shifts such as 4-day or 4.5-day workweek.”
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