As long as your work load will be reduced for 4 days, I feel it's OK to work only 4 days. I thought the most difficult part is the uncertainty of the future. Every morning when I drove to work, I always guess if it's my last day.
You cann't determin if you will be laid off or not, but you can look for other oppertunities. The best thing you can do is to be positive and make yourself be prepared for the rainy days.