A 4-day work week will reduce their income and that will sink many people financially.
That is true. I have noticed that on a day without work I tend to spend more. Free time = more spending. Maybe this is more individual and I only spend more because I spend time with my family, try to diversify their life and routine.
I am sure that employees wont like that4 day work week either. For example, are you ready to receive 1/5 less salary, because employees wont pay same as 5 day work week. It looks like it is unprofitable for employee also. 3 days of rest is disastrous for business. A lot of business will hire extra employee for that period, and that means more taxes, more expenses.
I actually forgot to quote the articles that covered this topic. In them, it was mentioned that salaries were not affected/reduced in those who embraced the 4 work days/week. Supposing that's true, I'll agree with you, you're way more likely to spend more money having 3 days off. Personally, I wouldn't mind, I'm currently working with no actual day off, 16 hours a day, with only a few exceptions on Sunday and Monday (12 hours and 8 hours respectively), and I'm hardly spending any money. Honestly, I regret it, I don't have time to even have a proper break to vent and relax, I'm constantly stressed and tired. It's not worth it, no matter how much money you might earn.
My free personal time is vital for my well-being and cannot be bought off with any kind of money.
If the salaries are not affected, then this is extremely unprofitable for employer. Paying for a 4 day work similar to 5 day work is disastrous, as you pay more for less job done.
As to my job, I remember we had a working day 8:30 to 5 with a 30min lunch break, later it has changed into 9 to 6 with 1 hour lunch break. Same 8 hour working day, but it is more profitable for employer. Previously a lot of people were late for job and 30 min lunch break last almost for an hour, as it is impossible to have a lunch in such a short time in our surrounding. Now people rarely came late for job and instead of 1 hour lunch spend around 45min.
I find 8 hour working day 5 times per week perfect timetable. If I work more, similar to you, I wont have time for a proper rest and do my own things.