There would generally be mandatory meetings for workers to attend that would allow for debates on the trajectory of the company. The state would "own" it but the workers would still direct it.

In a very very small way, it is like what Germany does with large corporations. They require a percentage of the board of directors be actual workers so it's not just a bunch of capitalist parasites making decisions that would hurt workers just to boost their own portfolios/profits.

Depends to what extent the state can be said to truly represent the workers.