When it comes to discussing a decrease in employee compensation, saying "pay cut" can sound harsh or negative. However, there are various other words and phrases that can be used to convey the same meaning more tactfully. For instance, instead of "pay cut," you could say "reduced compensation," "salary decrease," or "cost-cutting measures." Additionally, you might use language that frames the situation in a more positive light, such as "adjusted salaries," "flexible compensation," or "streamlined expenditures." These phrasings may soften the blow of a reduction in pay and help to maintain a more positive morale among employees.