If the employees have the power then decisions that are good for company but bad for the employees won't be made.

Let's say that the company can't compete so the CEO proposes to automate production and lay-off 50%+ of the employees, do you think employees would vote in favour?

In general coops are not good at tough decisions and innovation.

Duralex already went bankrupt in 2008 and they are heading for it again. What's in the article is nice but it's charity not business so unfortunately I am not optimistic.