I bet many of these managers are unhappy themselves with the paycut. They are paid at a discounted rate, compared to their peers in the industry. And yet they have to pretend they are okay with that and at the same time convince others to stay positive.
30% discount would bring them down to less than a big percentage of technical folks in other companies.
On top of that, these managers and directors are disliked by so many others, Those that took advantage of others and or abused their power in the past probably are worried about their own safety considering the anger and frustration that so many have during these times,
30% less pay for more risk.