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I'm not, but I have two clients that are. We were anticipating the possibility of decreased orders/demand nearly a year ago, so they scheduled furloughs (operational shut downs) well in advance that fell during several periods when lots of workers historically wanted time off anyway. For example, one plant chose the week school started, the week between Christmas and New Year, and the week of spring break -- and announced the plan and those dates way back last June. Employees had the option of taking the time without pay, using available vacation days and being paid, or signing a "work desired" list and being placed on a skeleton crew doing maintenance and upgrade projects during the down time.
I think the key was that management was proactive and thought through how to attain a necessary cost cutting objective and minimize the negative impact on employees (they actually made it a desirable situation from the perspective of some workers). So it worked out well and people responded positively.
In contrast, I think any purely reactive measure by management (sudden layoffs, furloughs, pay cuts, whatever) is going to be viewed negatively (not just by employees, but by customers, suppliers, stockholders, everyone -- and it probably should be viewed that way in most cases).
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Friday New York Times Mar 27 (front page) had a story from Germany where the owner, rather than resorting to layoffs asked half his employees to come in every other week.