Whilst I am not clued in on whether or not a Football Club in administration has different rules to a company in administration (or looking to cut costs, aka, make redundancies), whilst the larger earners are the ones that you typically do look at removing from the books, you cannot be made redundant during the process solely based on how much you earn.
I think it's important to remember at this time that whilst we may be fans of the club, there are actual employees whose livelihood are under threat here and are entering a difficult period of uncertainty, stress and worry. I do hope that all staff, and players, who lose their jobs during this event are taken care of, offered support, and provided a respectful package.