My first reaction is: that is allowed now. There are worker cooperatives. No need to change anything.
Then, if that kind of company were superior in some way (more competitive, more stable), market forces (both consumer decisions and workers voting with their feet) would make them rise to the top, and the model would spread. Why doesn't it?
And, breaking news, slavery ended (in liberal democracies). I have been working for almost two decades, and was never slaved nor owned by anybody. I don't even know what you're talking about.