60k pay cut starting July 1st, how to prepare for the inevitable.

I just got notified thirty minutes ago that as of July 1st I'll be transferred to a new position making roughly $90k/yr, down from my current $150k position.

It's looking like bankruptcy is inevitable. Things are already tight month to month, and there's no way to pay everything on such a step pay cut.

I guess I just need to know what steps to take to hopefully keep my house and the new truck I bought for my wife in January.

Wife works and makes $45k/yr. Located in Missouri.