My company, on Monday is having people work Sunday-Wednesday and Wednesday-Saturday from 7am-5pm. I personally have no qualms with this set up. I just don't see it working long term, seeing as we have black Friday and cyber Monday coming up, and we are a computer building company. Half of the reason most people wanted to work here were the benefits, which are not many: insurance (that we pay for, naturally), it was M-F 8am-5pm with an hour long unpaid lunch and two 15 minute paid breaks, and weekends off, we are losing basically all benefits, but it gives everyone 3 days off a week. Our software for orders sucks and needs an update, and I feel like that could resolve 80% of the problems we have with the company. They also only gave us about 4 days before springing this on us, so that's a little annoying. This is also in the USA, so, uh hooray?
But I am hoping this works out and they give up a pay raise to make up for any lost hours (~5hrs), but I just don't see that happening realistically due to we only get paid 12 an hour, or at least most of us do.