The price for reducing working hours is high - for example, civil servants forgo both vacation pay and Christmas bonuses. For employees, at least part of the Christmas bonus is likely affected too. Of course, Tagesschau doesn't mention anything like that in their report, and suddenly the impression is created that people are simply being given a few hours as a gift. So much for professional journalism...
However, I wouldn't object to a 34-hour regulation with my salary. Unfortunately, my employer did it the other way around: changed from 38.5 hours to 40 hours without wage compensation and by eliminating overtime premiums.
At tagesschau im Internet you can find the original article.