I think it makes sense. Not sure about other businesses but Friday afternoons are completely dead around here. So I used to put in my 40-45 hours by Friday mid afternoon and jet early. Now I just come in a bit earlier and leave a bit later to put in the same amount of hours in 4 days. Saves me a lot of gas, time, etc and my employer doesn't really lose anything.
"Think of how stupid the average person is, and realize half of them are stupider than that." ~George Carlin