Reducing the voltage of a multi-horsepower induction motor designed for 3-phase 440V at 50Hz to 410V can lead to excessive current draw to maintain the desired RPM, such as 1450 RPM at full load. This increased current results in higher resistive losses, known as I-squared R losses. While running under these undervoltage conditions, the motor's power factor can improve. Maintaining the correct voltage and synchronous frequency is crucial for optimal motor performance. Overall, operating at reduced voltage can negatively impact efficiency and increase wear on the motor.