This is a tough one to answer without knowing more about the situation, why you provided the SK-required notice (which I presume is more generous than the federal requirements) and the particular industry you’re in.
One immediate risk I’d point is exposure to a claim for constructive dismissal, which arises any time employers impose unfavourable changes in employment conditions. The risk would be particularly acute if you implement the change unilaterally; conversely, you’d be on stronger legal grounds if the contract contains a provision allowing the employer to lay off employees for short periods of time. Also remember that even if the ESA laws of the jurisdiction ALLOW FOR short term layoffs, the right isn’t necessarily automatically given to management, especially if the contract precludes it.
I hope this helps but if it doesn’t, give me more info about the situation and I may be able to give the Q a second shot. Glenn