Durham-based bank switches to four-day week for staff in flexible working move

A Durham-based bank has introduced a four-day week for all of its staff - without cutting their pay.

Atom Bank has offered its 430 staff the chance to move from 37.5 hours a week spread over five days, to 34 hours split across four.

The North East app-based bank says it is the largest company in Britain to introduce the flexible work move.

The new four-day working week began at the start of this month, with the majority of employees choosing to adopt the new working week.

Atom introduced the change after it said workers had a "strong preference" to have "the opportunity to work flexibly" - something highlighted by the pandemic.

Mark Mullen, Chief Executive Officer at Atom, said: “Since March 2020, Atom, along with almost all workplaces around the world, has had to adapt rapidly to new ways of working.

"Our experience has exploded many of the myths of the modern workplace. It has happened at a time when we all need to become more aware of the impact of work on both our mental and physical wellbeing.

We now know that many jobs can be done as efficiently and productively from peoples’ own homes as from the office."

They said the introduction of the four day week "follows a robust review process which confirmed that there would be no risks to customer service or operations."

The process reviewed productivity, effectiveness, available resources and impact on external partners and stakeholders.

Atom is a mobile only bank that started operations in April 2016.