My employer said either take a large pay cut or leave with a severance. They gave me 8 weeks to decide. Now they want an answer in 3 weeks?

I have been with the company in a management position for 13 years. This is a new management group that came in about 1 1/2 years ago. They have removed all of the higher payed executives and people over 45 years old (like myself). They offered me a pay cut or severance (6 months pay)...all verbal..but I have recordings. They gave me 8 weeks before the pay cut takes effect and when they would need a decision. It has been 3 weeks and they would like a decision tomorrow? Can they do this?