No More Commissions or Incentives—Feeling Like Crap as sales person like wt….!

So, I just found out today that my company has removed ALL commissions and incentives for everyone, particularly the sales people. No more extra pay for hitting targets. Even not these pizza parties. Like Just nothing. Do not know what is going in there mind,
The CEO made the announcement and it honestly felt like a slap in the face. He said some things that really hit wrong:
“Times are tough, and we need to tighten our belt as a family.”
We’re not a “family,” we’re employees. We get that things are tough, but we have our own lives to deal with. Bills, groceries, you know, life.
“Performance incentives were a bonus, so you shouldn’t have depended on them.”
Like, what? Incentives and commissions are not “bonuses.” That’s part of our pay! It’s what we’re promised.
Even this was not enough he declared that sales peeps have to completed the target else, here will be deduction… likee what the actuall helllllllll..
And then, he ended the call with “now let’s get to work,” like everything’s fine and we’re all gonna be super motivated with no extra reason to work harder.
Honestly, it’s just all so discouraging. I don’t even know what’s the point of putting in the effort anymore if there’s no reward. It’s like they want us to stay loyal, but loyalty doesn’t pay the rent.
I don’t even know what to do now. Also if you’re a sales guys pls suggest some advice to complete the sales quote/ also u can give me a job referral as well. I have experience in sale in saas products.
Anyone else been through this? How do you keep going when there’s nothing left to keep you going?
Thanks for reading, just needed to vent.