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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 118156
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Can a company reduce your salary during hard times if you

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Can a company reduce your salary during "hard times" if you have a written employment agreement that states your salary from the companys CFO? Also can they refuse to give you a raise that is in the same agreement? I was told my job title didn't change and that my duties were not going to change and the salary reduction was not due to my performance. I was also told that the CFO was not an officer of the company so he could not write a legal employment agreement.
If you have a written agreement from the company, they are bound by it. As far as the CFO not being able to write the agreement, there is NO COURT out there that would hold that a CFO does not have at least "apparent authority" to enter into contracts with employees, and unless you knew at the time you entered into the contract that he did not have "actual authority" the court will bind the company to the contract. They cannot reduce your salary or refuse your raises if they are in the written agreement and if they are refusing, then you would have to sue for breach of contract.

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