My Salary base is 40K - I work in a small business [about 15 employees] in CA

I’ve been working from home since March due to Covid-19. However, in April we had a team meeting where our Boss cut our pay by 10% (Totally understandable due to the pandemic) my issue is that now that we are in October, our boss has let go of 4 people. We’ve been busier than ever and receiving more orders than we have in the last few years. I have inside information that he has applied and was approved for Covid loans [to help keep everyone’s pay at their normal rate] - but he has yet to give us our 10% back. Is this legal? It would understand if our business is doing poorly but the money is clearly there.