On Friday, Zibuyu, an e-commerce company based in Hangzhou, China, announced that it will be implementing a 4.5-day work week in 2025.
The company’s CEO, Chen Caixiong (transliterated from Mandarin), made the announcement at the company’s annual meeting.
At the end of his 7-minute speech, the CEO said, “I will give everyone a big gift, especially the post-00s, they will definitely scream.”
“Zibuyu will implement a 4.5-day work week in 2025,” then appeared on the big screen, causing the crowd to burst into cheers.
Mr Chen explained that their business is an ecosystem in which employees are important stakeholders.
“Since everyone has created value together, they should enjoy the rewards. The 4.5-day work week is the best reward for the hard work of employees,” he stated.
Besides Friday afternoons off, the CEO also promised that there would be no salary cuts nor lay-offs, Sin Chew Daily reported.
In an interview with the media, Mr Chen shared that the average age of his employees is 28 years old, with employees born in the 1990s and 2000s making up 75%.
Image courtesy of pondsaksitphotos on Canva. For illustration purposes only.
According to Metropolitan Express, the CEO believes that a young company is not defined solely by age, but also “by mentality and attitude, which are more important”.
He added:
The future competition will be between young people, so our work culture and work scenes must continue to be close to young people. We want to build the workplace into a warm organization that can inspire their personality and creativity. This is also our core competitiveness in the future.
Zibuyu is one of the largest cross-border e-commerce companies in China and is listed on the Hong Kong Stock Exchange.
It began as a women’s clothing store in Taobao founded by Hua Bingru, who was a sophomore student.
After Mr Hua graduated from the Chaohu University School of Electronic Engineering in 2011, he started the e-commerce business with his friends.
In 2021, Zibuyu ranked third in cross-border export B2C e-commerce apparel and footwear market in China and first in North America, China News reported.
As for revenue, it reached a revenue of RMB 1.46 billion (S$270 million), with a net profit of RMB 90 million (S$16 million) in the first half of 2024 alone.
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Featured image adapted from Metropolitan Express
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