Major Corporation Drastically Introduces 'Wolhwasumoktototil'... "Will Become a Great Place to Work"

Japanese manufacturing giant Panasonic announced that it will introduce a four-day workweek for employees who wish to participate. The photo is unrelated to the content of this article. [Image source=Pixabay]

[Asia Economy Reporter Sumi Hwang] Panasonic, a major Japanese manufacturing company, will introduce a four-day workweek system for employees who wish to participate.

On the 7th, Panasonic President Yuki Kusumi announced at an investor relations (IR) briefing, "We will implement a system where employees who want to work only four days a week can do so."

President Kusumi explained, "The specific working method will be decided after the transition to a holding company system in April, with each affiliate negotiating with labor unions."

Regarding the reason for introducing the four-day workweek, Kusumi said, "It is to ensure employee well-being," adding, "by encouraging activities outside the company such as side jobs, obtaining degrees, and community service, we aim to create a better working environment."

However, Panasonic has not yet finalized how to adjust the salaries of employees who choose the four-day workweek.

Meanwhile, due to the rapid changes in work environments worldwide caused by COVID-19, companies adopting the four-day workweek are increasing, especially in Europe and Japan.

Japan's ruling party, the Liberal Democratic Party, officially announced the promotion of the four-day workweek in April last year. According to the Asahi Shimbun, the "selective four-day workweek" considered by the LDP allows employees who wish to work four days a week while reducing their monthly salary by about 10-20%.

Through this, the LDP expects to increase workers' leisure time, thereby promoting human interaction and consumption.

Spanish telecommunications company Telef?nica is testing the four-day workweek with 10% of its domestic employees. Employees who start the four-day workweek have their salaries reduced by 15%. Telef?nica plans to expand the four-day workweek if productivity remains stable.

Atom Bank, an internet-only bank established in the UK, declared the start of a four-day workweek in early November last year. Accordingly, the weekly working hours per employee among Atom Bank's 430 employees decreased from 37.5 hours to 34 hours.

Employees can choose to take a day off on either Monday or Friday. Despite this, their salaries remain the same as before.