ThredUp Says a 4-Day Week Cut Its Corporate Turnover in Half — And 3 Changes Helped Workers Get Ruthless About Their Time and Productivity
September 27, 2023
ThredUp, an online clothing consignment company, successfully transitioned its 300 salaried employees to a four-day workweek in 2021 by making strategic changes. They reduced meetings by 20% and designated Tuesdays as “maker days” for focused work. Additionally, they encouraged phone discussions for email threads that went through three rounds without resolution. This shift not only improved employee productivity, with 93% reporting positive effects, but also reduced turnover by 55% compared to 2019, attracting new hires drawn to the shorter workweek. Other companies like Shopify have seen success with similar approaches, indicating the potential benefits of such adjustments to work schedules.
Recent News
Media Giants Depend on Sports As Content Shortages Rise
As Hollywood emerges from last year’s strikes, major media companies are turning to live sports to attract audiences and advertisers. This trend was evident during this year’s Upfront presentations, where media giants showcased their upcoming content and advertising opportunities.
New Trader Joe’s Opens in SF After 10 Years
San Francisco’s Hayes Valley neighborhood welcomed a highly anticipated new addition on May 17, 2024, with the grand opening of a Trader Joe’s at 555 Fulton St., on the corner of Laguna Street. This event marks the end of a decade-long wait for residents who have been eagerly looking forward to a new grocery store in their area.
China’s Property Market Boost: Stocks Surge, Copper Hits Highs
The Chinese government unveiled a comprehensive support package that has sent ripples through financial markets. This initiative includes a slew of measures aimed at stimulating housing demand and addressing the excess inventory burdening developers. The immediate impact was a significant rally in Chinese stocks and a surge in commodity prices, notably copper, which hit record highs.
Mercedes-Benz Workers in Alabama Reject Union
In a pivotal moment for autoworkers in the southern United States, employees at a Mercedes-Benz plant in Alabama have voted against joining the United Auto Workers (UAW) union. The outcome, with 56% of workers voting against unionization and 44% in favor, comes as a significant setback for the UAW’s efforts to expand its influence in the region.