Even if you don't have a special contract with the employer, as c-level executives do, lawyers advise companies not to reduce your salary unless it is a company

Even if you don't have a special contract with the employer, as c-level executives do, lawyers advise companies not to reduce your salary unless it is a company-wide salary cut. So, there are two ways for a company to choose: (a) plan a small layoff and get rid of all those people you want to fire across the company; (b) stop giving any raises/bonuses/RSUs (or give the least amount) and move all reports of that person to another manager, thereby showing that the said employee should find another job.