Which is a good idea, but one that possesses some legal risks (what doesn’t?). One of the primary areas of concern is compliance with wage and hour law. The Department of Labor has put out a timely FAQ, Regarding Furloughs and Other Reductions in Pay and Hours Worked Issues.
If you are considering some form of furlough or related way of reducing costs without eliminating employees, this is a good place to start on the various issues that might arise.
Hat tip to Richard Tuschman at the Florida Employment Law Blog for catching this one.