>Well then, direct the anger at those who do the telling or the requiring.

I will remind you that this is what kicked off the conversation. Forcing a pay cut on people who can't reach their normal level of productivity is a perfectly reasonable choice. To do it during a global pandemic if the survival of the business is not on the line is a choice that lacks empathy and compassion, but it is a choice that management can make. At least then it will be clear who is at fault for the decision. Refusing to do anything and letting your employees fight about it amongst themselves due to your own lack of management initiative is a cowardly way to lead.

"Sure thing. I'll take a 0% pay cut, reflective of the market rate for someone with my skills and experience. I'm taking a few weeks of PTO starting today to look for a new job in the meantime in case this isn't tenable. Thanks."

(Then you load up the "Who's Hiring" thread from last week on this site and line up a few juicy offers)

I’ve never seen it work the other way: “we had to let go of someone so you have to do the work of two people, here take 50% of their salary.”

So why offer such a thing to management?