Reduced Work Week and Compressed Work Week are a (relatively) new concept that some Annualised Hours Contract workplaces are doing
Reduced: You work 4 days of 7.5 hours, adding up to 30 hours weekly, you get paid the same as if you worked 5 days of 7.5 hours (37.5 hours)
Compressed: You work 4 days of 9.5 hours, adding up to 37.5 hours weekly, you get paid the same as if you worked 5 days of 7.5 hours (37.5 hours)
A few years ago I went back from 40 hours per week to 36 hours per week. In practice this means one five day week, and one four day week with Fridays off, giving me a long weekend. A few colleagues do this too, and some others opted for a 32 hour week, with four days each week.
It has been a pleasant experience for me, and I would preferably not go back to a 40 hour week.
I finally feel like I have time to enjoy my weekends again. Leaving me enough time to do chores, fulfill social obligations and engage in my hobbies.
It is also helpful that after taxes the wage difference between working a 40 hour week and a 36 hour week is not that significant in the Netherlands. So I would easily trade the wages for the healthier work-life balance.