my pay has also been reduced by 25%
If you think it is hard to live at 75%, try living at 0%.
Take the mans money and look for another job.
Look the contract over very well. How badly are you locked in? How easy can the company get out?
If the company can get out easy they will cut you off when they find a replacement.
If you can get out with only one months loss then you should go when you find something.
It may be that they will start the 75% pay and not push you to sign a contract. In a up market that might be good for you.
If you leave in the middle of a contract you can not use them as a reference. They may give you bad marks now any way.
People often leave just to hurt the company. Bad idea. You can live at 75%. Make contacts, look for jobs, stall on signing if there is not a good way out.
Careful, with your copper coins.
Do a good job. They may change their minds in 6 months.