Chile's reform to reduce weekly working hours from 45 to 40 also promotes labor flexibility, including a 4x3 work model and an extra hours bank. The bill aims to establish flexibility and new rights for workers gradually over five years, ensuring no impact on remuneration.
Chile will have one of the shortest standard workweeks in Latin America with 40 hours/week. Other countries in the region have longer workweeks. Developed nations have more regulated working hours, with some having workweeks as short as 35-38 hours. Chile's unique approach accommodates the needs of its workforce and economy.
Reduced working hours in Chile impact labor costs, efficiency, employee morale, and competitiveness for businesses. Investors' perception of employee well-being vs. productivity and regulatory changes may affect company performance.
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