Typically, your employer’s ability to cut your pay depends on the status and details of your employment.
If you’re an at-will employee, your employer is allowed to take certain actions, like reducing your pay. As long as your employer doesn’t cut your pay while violating any laws, like discrimination laws, they are generally allowed to do so.
However, employees are not considered at-will employees if they have an existing and valid employment contract. If you have an employment contract, your employer must respect the terms of the contract.
Therefore, absent any terms that make it acceptable to cut your pay, your employer is not allowed to reduce your wages. If they do, they’d be in breach of the contract, which could result in legal trouble.