Well I'm not going to express opinions on the rights and wrongs, but its a fact and does illustrate the massive problems coming down the track.
If you're a decent young mid-manager at a large company then I'd say you're looking at something in the region of £50k basic, pension & benefits of some kind. As an estimate.
On that level of income you might have a mortgage of £500 to £1,000, you might have a couple of young kids, car loan and so on, and you can still leave reasonably enough, you have your career ahead of you. This stuff means that immediately you cannot pay your mortgage, you might not be able to pay for the car, its instant financial meltdown and in the space of a fortnight you've gone from stability to being at the mercy of the banks and with the prospect of no job because your employer caves in under the weight of having no income but a stupidly high cost base. And in the post-coronavirus shake up & levelling off that level of salary will not be easy to come by. There is no grey area, you are utterly fucked. There is a purely 'Capitalist Darwinian' view that some will take, that this will flush out the strong companies from the weak (and you already see markets moving wildly between industry sectors), but from a human point of view its not their fault they were put on packages like that, and now they're going to spend maybe a decade or more getting back on their feet.
I'm not expressing sympathy for them any more than anyone else, but this is going to be horrendous- anyone 'highly geared' is going to have one hell of a problem very soon if they work for a company that doesn't have cash reserves and/or relies on razor sharp timings on cashflows.