No. Read the article:
"Fletcher Building has proposed its executives take a 15 per cent cut in pay, but other staff could see a 70 per cent slash in income in the weeks after the coronavirus lockdown"
People get a 70% pay cut. Bosses get a 15% pay cut.
This necessarily also means that the most painful pay cuts for staff are actually going to occur when they company expects them to be able to work. So yeah doubly classy.
Fletcher Building -- you dicks.