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@LondonSLGSS
Well, it occurred to me that at a time of recession when there is apparently less work going round, a mass day off could almost be helpful because a lot of people who didn't go in to work will not have been paid and will not have cost their company anything. When you consider that a lot of car manufacturers at the moment are paying people reduced wages simply to stay at home, and a lot of businesses are working three or four day weeks, a day off might help to use up some of that slack.
Also, we all know that a very large portion of the working day for most people is spent pissing about doing nothing. If people take a day or two off then what will happen? They'll work harder for a day or two afterwards to do the things they didn't get done on their days off, and by next week everything will be back to normal. I don't think this is any big deal.