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I think this depends. Do I have the same workload as my 5 day week, but expected to do it in 4 days? If so, 0% reduction. If my workload is reduced 20%, then anything up to a 20% reduction may be appropriate.

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for yourself or others, do you think your workload would be reduced?

or, would you be able to get the same or more done in 20% less time?

I doubt it would be reduced, generally in these kinds of situations I've seen that the same level of effort is required, just compressed into 4 days rather than 5.

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