If you can’t maintain the number of Full Time Equivalents (FTE) employees, then you’ll see a decrease in the amount of loan forgiveness you will be eligible for. For example, a 20% drop in FTEs results in a 20% decrease in the amount of the loan forgiveness.
However, there is an exception for rehires. Reductions in employment or salary that occur between Feb 15, 2020 and April 26,2020 will not reduce the amount of loan forgiveness if you eliminate the reduction in employees or the reduction in wages by June 30, 2020.