I don't see anything wrong with it. It's still up to that employee if he wants to work on that particular holiday or not. Most companies offer extra pay or salary if you will work on holidays. With the state of the economy right now that cost of living is not really cheap, most employees will definitely grab that chance to earn extra amount for their families. Take Japan for example, Japanese employees still goes to work during Christmas and New Years Day even though most countries treat it as a holiday.

Also, there are work industries where you really need to work during holidays. Hospital workers are not all allowed to take a dayoff on a holiday. Retail industry that offers goods and services are in-demand during holidays.