Michael Schuman, reporting for Time on how German managers pulled their companies through the “Great Recession”, writes:

Instead of laying off cherished staff, management deployed idled workers to new assignments. Bernhard Nick, a BASF president, believes the measures taken during the downturn kept the company primed to capitalize on the recovery. “It wasn’t just a family feeling or being nice to each other,” he says. “Even the normal shift workers have such a high skill level, it is not so easy to lay them off. You lose a lot of knowledge, which would give you big problems starting up again.”

Update: I somehow forgot to mention that I only read this thanks to sybreon!