Not sure of the specific situation in the UK but here in the US some employees have chosen to take cross the board pay cuts so that ALL could keep working. This includes some school districts.
Bring your own lunch? Maybe, when times get better, some wise manager will maintain some of the perks cuts and save for a rainy day.
Unfortunately, a company can not run without managers but the lowest of the ranks can suffer cuts, assume more duties and little is lost companywide.
If a company is privately owned the owner(s) can do as they please. I worked for a company where we exceeded annual goals both volume and dollars by 10% but had salary increases and bonuses cut because the owner had bought a custom Mercedes and had to pay for it. I worked on straight commission so it didn't affect me but there were young guys with families who had been counting on huge bonuses - they had earned them.

As to "Yet the Fat Cats get obese with grossness and no-one bats an eyelid!", do yoyu have specifics or are we off and running again on a theme "everyone knows is true because it is repeated over and over"?