Communicate like crazy, being humble but firm with clear targets for getting through the upcoming period.
Delegate various people to your team and hold each accountable for finding creative solutions to turn dead/slow/surplus assets into cash and eliminate waste.
Ask for volunteers to scale back weekly hours or take short-term leaves. You might be surprised at the number who’d love to take some time for a special project, hobby or trip, if it’s viewed as beneficial to the company and doesn’t jeopardize their position!
Finally, “necessity” can help to leapfrog your company past many of the long-standing bad habits, territorialism, and entitlement problems that may have frustrated you for years. If you clearly need to re-size your staff and capacity, this is an ideal time to “raise the bar” with respect to span-of-control, performance pay, cross-training, team behavior, quality, maintenance and housekeeping, so that “going forward” your workforce is more committed and aligned to desired practices for the future.