The irony is many companies would benefit from this in terms of productivity, employee retention, morale, etc — but the culture is such that it’s a heavy lift at this moment to do this.
In my particular case, I loathe the company I work for; I get to work on and lead interesting projects and work with good teams and customers, yes - but the system behind it all is absolutely rotten to the core, laden with bureaucracy, brimming with ludicrously rigid rules, and filled with daily demands to comply with this or that, making life difficult for developers in particular, and never, ever valuing individuals. Yep, I'm a little bitter ;)
Truth is, aside from inertia, I stay with the same company for 2 reasons: I'm fully remote (or near enough), and have a 4-day week with 7.5h days.
Personally I'm on a '7 hour day', lunch isn't counted (they changed it a couple of years ago, some shenanegans over overtime and extra holidays or something). My actual worked hours are somewhat different, it's outcome based and self scheduling.