Yes. Yes, that's exactly what we're going to see, and more swiftly than people are generally comfortable with. What are we going to do with all those cubicle dwellers?
But beyond that, I don't think most people want a three day work week. They would rather work five days and get the extra money. I worked at a company that did government contracting. We had a couple quarters without much in the way of orders, so instead of laying people off like you'd normally see in that situation, the company decided to go to a four day week, with a commensurate cut in pay.
I was thrilled, as a young single guy, to get Fridays off. I rented a room in someone's house and hit my monthly nut in about two weeks. But most of the people I worked with hated it. Some of them quit. A lot of them both needed the money and also had no idea what to do with themselves on that extra day.