It depends on what my commute is now, how many other short commute/no commute options there are and what they pay.
For me, I would not take that big a pay cut JUST to work from home. I work from home now, and I love it compared to being in the office, however; I'd see if I can find a comparable work from home job with higher pay.
Now if I was downshifting to the lowest gear, I would be more likely to take the pay cut and ride the gravy train until it stops. Right now I'm still accumulating and investing despite FI, only because I want to get while the getting is good and build massive wealth before pulling the plug.