I believe a salary cut across all IT companies would be good. The living standard of the employess would not be affected even a bit. A huge amount of their salary which is going in paying Housing loan EMI and House rent would be reduced as the rents and property prices would automatically come down.
This would be better for people from non IT fields too. IT people will still be able to satisfy their ego as their salary would be more than others and their lifestyle remains same as rents and EMIs also come down.
