Possible and probable.
Such an item would mean a tremendous paradigm shift for western civilization. Decreased need for food production, manufacturing, transport, distribution, no more need for all the packaging that goes into the movement and sale of food and food stuff, less need of paper and cardboard for the packages means less need for the harvesting of trees, fewer plastics and polys mean less need for petroleum products, fewer trucks and trains to move goods, fewer parts for said vehicles, fewer grocery stores mean less construction, not to mention all the materials needed for the construction, virtual elimination of the fast food industry and the materials, equipment, transportation that make it possible. Decreased need for huge storage warehouses, all of which means fewer jobs for an increasing population. Society will have to come to grips with the fact that many people will not be able to be employed even if they wanted to work.
Of course fewer or no work hours mean an increase in recreational time, activities, supplies and equipment so maybe they could find work there.