Lee died about a decade ago; I don't know whether they still have this policy. (One immediate change was that their stores started being open on Sunday.)

In ‘our’ field, HP, under founders Hewlett and Packard, ran into some trouble in 1970 and instituted a “9 day fortnight”: rather than lay anyone off, everyone took a 10% cut in pay and hours.

Some friends of mine in sales roles took a pay cut during the pandemic. Not just the lost commissions because nobody was buying, but base salary as well. They liked their jobs otherwise and felt it was a worthwhile sacrifice to help the company survive. During that time they worked less, and that was the expectation, because there wasn't really much revenue producing work they could do anyway.

I worked for a small company through the dot-com crash (when I was lucky to get a new position as a previous employer cratered). 20% pay cut. Things eventually recovered with a much later employer.