Yes. It’s a matter of a gamble, isn’t it? If you think you’d be likely to survive a layoff, you’ll probably say no (no waste of altruism there). If you don’t, you’ll probably say yes, knowing that a job with less pay is better than no job.
I would honestly say yes if I were sure that the company had only those two alternatives: x dollars to spend for payroll, either to be spread thinner or to be shared among a smaller number. I don’t want to see my colleagues take a hit, and I don’t want to either.
But then I am one who is likely to be cut.
That’s a big ”if,” though. I believe that some companies are using these circumstances as an excuse to take things away—benefits, amenities, and positions—even if they don’t really need to, so that shareholders come out better and it’s only the common folk who suffer.