An interesting thing about Facebook comp thus far has been that their pay bands for engineering were the same across the United States assuming wherever they had an office (unlike other large companies like Microsoft and Amazon). For reference check out https://www.levels.fyi/company/Facebook/salaries/Software-En.... Pay cuts would come as a pretty hefty change to those who have already moved or relocated.

At the same time, this is now an employers market. With remote work taking stride, pay cuts feel inevitable – why would companies pay top dollar for talent they have broader access to and who are willing to accept less. We'll have to wait and see how new offers start looking come August.