If a company I worked for did that I would immediately start looking for a new job. I'm not a caregiver, I don't have kids, and it wouldn't affect me as a policy, but the idea that the company I work for could be so completely unfeeling and unreasonable, and would choose to ignore the reality of what's happening in people's lives, means it would instantly become a place I wouldn't want to work at any more.
The fact is most people, especially in tech jobs at large companies, put in way more time and effort than they're actually supposed to. For the company to think that's OK but then to cut wages or fire people as soon as that person isn't able to put in 100% for a short time due to a global pandemic is just a dick move. And the number one rule in life is really simple: don't be a dick.