I don't think so, unless it was long enough ago to be outside my window of experience.
Intel went through a major round of layoffs in 2016. (This was called ACT.) I don't know of any pay cuts, just salaries that weren't particularly high to begin with and haven't risen very fast.
This time they're apparently trying to avoid large-scale layoffs. Cutting salary/benefits isn't great either though. If they want to reduce payroll expenses, they could take volunteers for people to switch to a 32 hour a week schedule in exchange for reduced pay (which wouldn't even be a new policy, it just isn't very well known).
Intel went through a major round of layoffs in 2016. (This was called ACT.) I don't know of any pay cuts, just salaries that weren't particularly high to begin with and haven't risen very fast.
This time they're apparently trying to avoid large-scale layoffs. Cutting salary/benefits isn't great either though. If they want to reduce payroll expenses, they could take volunteers for people to switch to a 32 hour a week schedule in exchange for reduced pay (which wouldn't even be a new policy, it just isn't very well known).