Based on the fact that there were no store closures or downsizing, but only a pay cut, this is a Utilitarian approach.
When moral decisions are decided based on which option will benefit the greatest number of people, this is referred to as utilitarianism.
Cutting salaries to avoid layoffs as a result of closures and downsizing benefits a larger number of employees, as opposed to the smaller number of executives hence it is utilitarian.
Find out more on the utilitarian approach at https://brainly.com/question/14453548.
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