> and yes, changing an employees contract without more consideration than "keep working" is abusing an employee
How is it abuse when it's entirely voluntary? The employee is not a slave. They can walk away at any time, or threaten to in exchange for concessions.
> There is no law that says the only job of a company is to maximize profits for shareholders
Nobody is claiming that here. You're assuming the only reason companies ever do this is to screw people over, when just as often it's caused by the company's revenues declining or costs increasing, requiring the company to do more with less or go out of business.
If the company can't keep paying you the same money for the same work, the only available options are to take what they're offering or leave your job. It doesn't help anybody to take away the first option.
How is it abuse when it's entirely voluntary? The employee is not a slave. They can walk away at any time, or threaten to in exchange for concessions.
> There is no law that says the only job of a company is to maximize profits for shareholders
Nobody is claiming that here. You're assuming the only reason companies ever do this is to screw people over, when just as often it's caused by the company's revenues declining or costs increasing, requiring the company to do more with less or go out of business.
If the company can't keep paying you the same money for the same work, the only available options are to take what they're offering or leave your job. It doesn't help anybody to take away the first option.