More or less, yes. Most companies don't do 50% pay cuts even under extreme circumstances, preferring to go ahead and lay people off, but many companies will do

More or less, yes. Most companies don't do 50% pay cuts even under extreme circumstances, preferring to go ahead and lay people off, but many companies will do things like wage freezes or temporary pay reductions to try to avoid layoffs. Your options are always the same. Stay or go.