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Pay isn’t really an impact here...you should fight for your market value when things recover.
Of course it'll play a factor. Imagine 2 consultants with similar experience and skills. One is homegrown that costs 90k, the other is an experience hire that costs 120k. Y'all talking like this isn't a straightforward business decision 😂
Also ones been with the firm longer, proven, and costs less - of course it's an easy call.
P sure salary won’t be the factor for layoffs. It will be, first, how long was this individual on the bench for, second, what skills does this individual have. The second part is waaay more important