Swiss voters have rejected a proposal to increase the mandatory paid vacation from four to six weeks per year.

In a national referendum held Sunday, two-thirds of the voters heeded warnings by the Swiss government and businesses that more vacation would raise labor costs and put the economy at risk.

As much of Europe struggles to control debt through wage cuts, tax increases and other austerity measures, a Swiss union had argued that more break time is needed to help people cope with rising workplace stress because of the fast pace and increased competition.