I think in such circumstances this is exactly what should be done.
LANSING, MI – Beaumont Health today announced they were eliminating permanently 450 positions and laying off 2475 more positions. The CEO will take a 70% pay cut and other executives will take pay cuts up to 45%.

On the heels of that annoucement, a coalition of unions including OPEIU Local 459, Teamsters Local 332, SEIU Healthcare Michigan, OPEIU Local 40, UNITE HERE! Local 688, and the Michigan Nurses Association put out a call today for McLaren Health Care Corporation executives to reduce their salaries so that no person makes more than a million dollars this year.

The organizations estimate based on past IRS tax forms that this would allow for approximately $8.4 million to be put into supporting front line workers and buying proper personal protective equipment.
https://www.miheadlines.com/2020/04/...g-off-workers/