What they need to to is two things:
1. Explain to everybody clearly what they're planning to bring the hours down to (if at all).
2. Show a serious commitment to do so. i.e increase productivity pay a lot! Not for us to make more money but create an incentive for the company to bring them down, if that actually is that plan in the first place.
If they're honest about their target as well as showing a thought out plan how to meet that, then maybe people would stay put a little longer and even go as far as helping them achieve that.
Without a serious plan in place I'm gone by the summer.