So, let's say I am a peon working at a large company that is having financial difficulties. The entire industry is having problems, some to do with the economy, some to do with the financial structure of the company, and some to do with inept management. In order to prevent the company from going bankrupt, management asks all of us peons to take a 20% pay cut. If we don't the company will declare bankruptcy and we lose our jobs and pensions. So we agree to this, as a job making 20% less is better than no job.
The next day, I find out that management doubled their own salaries and set up their own pension so that it isn't lost in bankruptcy.
Would I be pissed? Damn straight I'd be pissed. I'd say to hell with the company and the owners of the company who hired such executives. I'd let the company go into bankruptcy, hire a good lawyer to see about protecting my pension, tell the executives to fuck off, and go look for other work.
In a heartbeat I'd do it.