In a first for industry bargaining, the Finance Sector Union has included a four day work week in its log of claims for a new enterprise agreement at Westpac.

For now the FSU is taking a pragmatic approach overall, seeking an across the board increase in pay in line with the cost of living, or inflation.

This is likely to be in line with the bank’s own budgets.

On the other hand Westpac has the highest cost to income ratio of the major banks. This ratio was 50.9 per cent in the March 2024 half – up from 45.3 per cent in the previous corresponding period.

The union’s log of claims otherwise centres on a range of new types of leave, including for gender affirmation and sorry business.

Any agreement from Westpac for a four day week seem highly improbable.

Or maybe a four day week is an idea whose time has come.