British app-based lender Atom Bank has introduced a four-day working week for all its employees without any change in salary.
The new arrangement has been in place since the beginning of this month and the majority of Atom’s staff has chosen the new working week.
Go deeper with GlobalData
Atom stated that this change is inspired by the pandemic, which has changed the way we work and live forever.
Under the new plan, all of Atom’s 430 employees will be able to switch from a five-day working week (37.5 hours) to a four-day working week (34 hours).
Atom noted that no deductions will be made in salaries and added that Mondays/Fridays are expected to be the default days off for the majority of employees.
Atom CEO Mark Mullen said: “A four-day week will provide our employees with more opportunities to pursue their passions, spend time with their families, and build a healthier work/life balance.
“We firmly believe that this will prove beneficial for our employees’ wellbeing and happiness and that it will have an equally positive impact on business productivity and customer experience.”
Earlier this month, Atom formed a partnership with Landbay to expand into the buy-to-let market.
Under the partnership, the app-based bank will finance up to £500m of Landbay’s prime residential buy-to-let mortgages.
In May this year, Atom Bank partnered with loan platform Funding Circle to provide £300m of new funding to small businesses.
