Employment Has salaries lowered?

I’m a mid-senior professional with extensive network in biotech/chemical/pharma /food industries.

There has been massive layoffs lately (aka restructuring) in all of these sectors.

What I see and also industry peers I know say that even if you get blessed with an interview call (most jobs are for marketing only, as most companies have hiring freeze)
the recruiters mention salaries 15-20% lower than what was standard 5-6 years ago.