See, e.g., this DEED page FAQ page on Shared Work.
I had not known the program existed, until reading of it at
http://votenolan.org/sites/votenolan.com/files/SharedWork.pdf
I do not know how current details within that item are but it's worth a look. Things are clearly explained.
Small sized employers, in particular, are encouraged to read it and then check with DEED on current ways and means, in deciding whether or not it is a sound and timely direction for a particular business to take.
One obvious question, perhaps answered in the FAQ page, I admit I did not study it, is, "How will use of this plan impact my future UI rates?" I would expect any employer contemplating use of the program would want that asked and answered.
After reading that pdf item from 2009 - and not knowing the current status of such a sound approach, (good things sometimes are undone) - I found the above-linked DEED frequently-asked-questions item via this Google.
Others more familiar with labor law in Minnesota may already know of the Shared Work Plan approach to dealing with times of lessened business cash flows, but because it was news to me I thought it might be to others. Comments [on point] are welcome.