Word: workweek
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...cutting excess retail staff and pruning bad debt. Media companies like Axel Springer, publisher of Bild and Die Welt, are bouncing back from a crippling advertising drought. Companies are winning important labor concessions. Siemens just sealed deals with workers in two of its mobile-phone factories to increase the workweek from 35 to 40 hours--with no increase in pay. And DaimlerChrysler won $600 million in wage concessions from its workers after threatening to move 6,000 Mercedes-Benz factory jobs from a Stuttgart suburb to lower-cost factories in northern Germany and South Africa. Such battles are bitterly divisive...
This time of year, work is the last thing on the minds of most Europeans. The E.U. mandates a minimum of four weeks holiday, guaranteeing a traditional summer exodus to beaches and mountains. When France adopted the 35-hour workweek in 2000, many employers met the requirement by simply adding to their employees' annual holiday allowances. It's not uncommon to find French workers with enough time to take both July and August off from work - paid, of course. Yet just as summer holidays come into full swing, the 35-hour week itself looks like it might get a permanent...
...INSTITUTED. A FIVE-DAY WORKWEEK; in South Korea. Acceding to long-standing demands from the country's labor unions, the government announced that it will require companies to pare their employees' workweeks down from the six-day schedule that saw the nation through years of rapid growth. But the shorter period comes at a price: some are concerned that higher labor costs and lower productivity incurred by the move will hurt Korea's already sagging economy...
...Back to Work It was fun while it lasted, but the clock's being turned back on the 35-hour workweek. Pushed by labor unions in Germany and France who hoped it would create jobs, the measure instead jacked up the cost of doing business. Siemens just negotiated a return to a 40-hour week for the 4,000 workers at its two phone plants in Germany. Philips is discussing increasing working hours at its Hamburg semiconductor plant as part of a cost-cutting plan. Automakers DaimlerChrysler and Opel, the German arm of General Motors, and railroad firm Deutsche Bahn...
...time spent in the math department dwindled from almost 50 percent of his workweek last year to about 10 percent this year...