Should there be a downward correction in salaries

Are you a founder OP? Cos afaik that's the only person who would think like this

If cooking oil, veggies, restaurant foods, gas cylinder, petrol, car, flight prices and other generic use stuff get a 69% discount overnight I'm ready to take a 10% paycut 😁

The trend has already started. People who have been at the higher side of the salary band have been fired. They are being replaced by folks at either lower salary or by folks with more experience and higher titles.

The companies which are firing employees as well as hiring by the side are doing what I just described.

Basically most people think there should be a downward revision. Kya phook ke aaya hai be will be ignored as an option