It could at Walmart for sure or even any place where everyone is trained to do the same monkey work jobs. But a real job when you try to have multiple people do a one person job it generally doesn't go very well, anything specialization you can't really have multiple people rotating like that. Believe me I'm not against the idea I'm just thinking for my businesses or some of my relatives very large business where if we had the office employees or even labor employees that have more responsibility only work 3 days a week it would be a mess. It's not really a matter of hours it's about tasks that need to be addressed daily, it would be more feasible to do more days at less hours than to do less days at more hours.
If the world wanted to collectively switch to a 3 day work week just work more hours I would be the first to sign up...