What's needed is a reduction in working hours plus a guarantee that monthly (or weekly/yearly/whatever time period makes most sense) take-home pay will remain l

What's needed is a reduction in working hours plus a guarantee that monthly (or weekly/yearly/whatever time period makes most sense) take-home pay will remain largely unchanged—so if we're pushing for a reduction from a 40-hour to a 32-hour work week, hourly wages should be increased by 25% to compensate.