No, it's not. Apple pays its upper management team on performance criteria of the entire company, not on a salary basis. No salaries were "cut", in fact some including Tim Cook's were increased, but the percentage of incentive performance pay just did not equal the same level as the previous year. In addition, restricted stock grants were issued just last fall to incentive the FUTURE performance of Apple. The headline IS "fake news," from a source known to distort AAPL news in that it is distorting these facts of the total compensation packages.
A "pay cut" is a cut in pay. That's different from a "salary cut". I retired from a company with a similar incentive package as apple - salary, bonuses, and stock options. When my total compensation dropped from one year to the next, even when no fault of my own, I suffered a "pay cut". I had less money to spend, even though my salary stayed the same or even increased. That's life.