1099 –> W2 transition – is this too big of pay cut?

1099 --> W2 transition - is this too big of pay cut? My employer is transitioning me from 1099 to W2. Last year, I made $53,000. The employer is offering $39,000 as a W2 employee. While I understand that W2 pays less than 1099, it seems to me that this amount of pay cut is a bit much. Thoughts?
submitted by /u/Low-Computer8293

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