The beginning of Covid was somewhat of a unique time. It made sense to accept wage cuts because the entire world economy was a big question mark at the time, an

The beginning of Covid was somewhat of a unique time. It made sense to accept wage cuts because the entire world economy was a big question mark at the time, and the likelihood of you finding another job at that point wasn't great. My own partner accepted getting cut down to only two workdays a week at 40% of her pay, for over six months, before she finally found another job. She would have been better off furloughed like most of the rest of the company (they were in the events industry, the company made almost $0 revenue in 2020) because she would have been eligible for the extra unemployment. But I think a 10% across the board wage cut is risky when you're not in the midst of a big recession/depression. You'll have your best employees that could have probably left and gotten a 10-20% increase elsewhere already, have now lost 10% of their wages at your company and now can get a 20%-30% bump if they leave. People won't be loyal and stay just because you're hurting the company evenly. Speaking from experience, at a previous company we had frozen raises and removed 401k match and worse healthcare and we saw steady and significant attrition just from that. Cut salary by 10% would probably have similar results.