As a former small business owner, I fully understand the challenge of keeping staff while going through a downturn. There is no way I could have kept my employees on the payroll and survived. I was spared that decision more or less because of natural attrition in my industry. People moved on, and I didn’t replace them.
What I like about this article is that the company tried a version of work sharing before considering outright layoffs. It seemed to work here, but I’m not sure it will work in many other places.