To calculate Jose's current weekly income, we need to first determine his hourly wage.
Jose works 7 1/2 hours a day, Monday through Saturday, which totals 7.5 x 6 = 45 hours per week.
His weekly income is $540, so his hourly wage is $540 / 45 hours = $12 per hour.
If his workday is reduced to 7 hours, he will work 7 x 6 = 42 hours per week.
To find out how much his weekly income will be reduced, we multiply his new weekly hours by his hourly wage: $12 x 42 hours = $504.
Therefore, if his boss cuts his work day down to 7 hours, Jose will lose $540 - $504 = $36 of weekly income.