A UK bank has become one of the first companies to switch from the traditional 9 to 5 to a four-day working week with no pay cuts.

For Atom Bank's 430 employees, they now work 34 hours over four days and have the option of having either Monday or Friday off. Previously, staff would work a total of 37.5 hours spread over five days. Any employee that switches to this new flexible working arrangement will have to work longer hours on their workdays in order to avoid a pay reduction.

The CEO of Atom Bank, Mark Mullen, said that the pandemic showed a different way of working that was flexible for workers and that it inspired him to change the traditional five days a week model.

He said: "Before Covid, the conventional wisdom was you had to commute in, sit at a desk all day and repeat that process when you commuted home. Covid showed us that it wasn't necessary" I think doing 9-5, Monday to Friday is a pretty old fashioned way of working. Everyone is expected to stick to it. I can't be sending my staff emails on a Friday, I can't expect them to respond to them. With Covid-19 causing vast numbers of people to reconsider how they want to live their lives, anything that leads to more productive, healthier, and, crucially, happier colleagues, is a win for everyone."

The new four day week came into effect on 1st November after an internal consultation found it would not have a negative impact on company productivity.