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The Notice of Salary Reduction is a letter that an employer can use to inform their employees that their salaries will be reduced. In this letter the employer will state their employee's new salary and the reason for the salary reduction.
There are many reasons an employer will reduce the wages of their staff. For example, an employer may decide to cut their employees' salaries if their business is facing financial hardship, and are unable to pay their staffs' salaries. To resolve this problem, employers either grant compulsory Leave of Absence to their employees or reduce staff salaries.
The document outlines the employee's current salary, the reduced salary, and the reasons for the reduction. By using this document, the reduction in salary is documented in writing to avoid any misunderstanding or dispute over the employee's remuneration.
How to use this document
This document requires some basic information, such as the names and addresses of the employer and employee, the employee's current salary, the reduced amount, and the effective date. It also specifies the amount or percentage of the employee's salary that will be reduced.
After completing this document, it should be printed and signed by the employer.The employer should deliver it to the employee. The employer should also keep a copy of this letter for record purposes. Note that this document can also be delivered to the employee via email.
The Labour Act, 2004 is the primary legislation that regulates employment matters in Nigeria.
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Other names for the document: Salary Reduction Letter, Agreement for Reduced Pay, Letter Informing Employee about Reduced Pay, Letter for Reduced Pay due to Poor Economy, Notice of Pay Reduction to All Employees