What should the government do? Were workers forced to continue to work for this company? Would the company have closed without the pay cuts? I don’t know what you’re trying to argue. Companies offer compensation, if workers don’t like the offer they are free to find work elsewhere. If they aren’t able or willing to they can accept the offer. I don’t see a situation, that has happened many times in recent memory, where a union doesn’t accept a pay cut and the company just closes a factory or declares bankruptcy as a “win” for workers.
The company had agreed to pay their workers a wage, then turned around and said "just kidding, you're going to take less or you're fired." The company used a recession as an excuse to keep more money despite, by all accounts, the company being in good shape.
You claim unions are no longer needed because of the protections provided by governments. Is there any legislation in your state preventing you from slashing your employees income?
Wrongful termination cases are generally a joke, in my province. One may win a wrongful termination case but nothing prevents the company from targeting individuals, in the long run. I know of people who have been wrongfully terminated, the labour board agrees they have been wrongfully terminated but recommend the employee move on because the company will eventually fire the employee anyways or make their lives miserable so they quit.
You're arguing against the need of unions because government protections are enough. I'm giving you examples of why they're still needed.