Short-Time Work - (adjective + noun Work)
A 2010 European Commission report defines short-time work as a reduction in working time intended to maintain an existing employer/employee relationship. It can involve reduction in the normal working week for a limited period of time or it can involve a temporary lay off.
Source: Adapted from EurWork
Example of Use: The use of short-time work is credited with saving jobs in the aftermath of the financial crisis.