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Notice of Salary Reduction - Template, Sample Form Pro · NG-law

✓ Valid in Nigeria · drafted to comply with local law

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Notice of Salary Reduction - Template, Sample Form
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Dear ________,

RE: NOTICE OF PROPOSED VARIATION OF SALARY (SALARY REDUCTION)

§1. Introduction

1.1 This letter is issued with reference to your contract of employment dated ________ (the “Contract”) and further to our consultative meeting held on ________ at which the matters herein were discussed with you.

1.2 The purpose of this letter is to formally notify you of a proposed variation to the remuneration provisions of your Contract, in the manner set out below, and to obtain your written consent thereto.

§2. Proposed Variation of Salary

2.1 Subject to your consent under §5 below, your current gross monthly salary of ₦________ will be reduced to a gross monthly salary of ₦________.

2.2 The reduction shall take effect on ________ and shall, unless extended or otherwise varied in accordance with this letter, subsist for a period of ________.

2.3 This variation is being proposed for the following reasons:

________

§3. Basis and Justification

3.1 This proposed reduction is a temporary measure necessitated by the prevailing financial circumstances of the Company and is intended to preserve the viability of the business and to protect employment during this difficult period.

§4. Review

4.1 The revised salary structure shall be reviewed periodically by the Company, and you shall be duly notified in writing of any further variation thereto. The Company shall use its reasonable endeavours to restore your salary to its previous level upon improvement of the Company’s financial position.

§5. Consent

5.1 In accordance with the principle that a variation to a contract of employment requires the mutual agreement of both parties, the implementation of the variation set out above is subject to your written consent. Kindly indicate your acceptance by signing and returning the acknowledgement and consent below on or before ________.

Thank you for your cooperation.


Yours faithfully,



____________________
________
________
For and on behalf of ________

ACKNOWLEDGEMENT AND CONSENT BY EMPLOYEE

I, ________, confirm that I have read and understood the contents of this letter and I hereby consent to / do not consent to the variation of my salary on the terms set out above.


Signature: ____________________
Name: ________
Date: ________

WITNESS
Signature: ____________________
Name: ________
Address: ________
Occupation: ________
Date: ________

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