Such measures would help France "find a way out of the trap that sees the accumulation of workers' rights become an obstacle for those who are jobless," he told Le Point.
The country's 35-hour working week was introduced by the socialist government in 2000 and has been a source of criticism from both the international community and corporate world.
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Former head of the World Trade Organization, Pascal Lamy, told CNBC that trade unions could be persuaded to drop their commitment to the short week, if industry committed to higher investment in France in return.
"I am convinced there is room for a negotiation between industry and trade unions, notably on tough issues like the 35 hours and whether or not within a company or an industrial branch, deviations to these 35 hours, which is the legal time, can take place," the French businessman and political adviser told CNBC on Thursday.