I am Advocate High Court from Karachi, Pakistan. I am dealing in Commercial and Labour Laws in Pakistan.
As per my view legal view in this case "The principle of locus poenitentiae" applies that means in short once right has given can not be taken back.
You can not reduce Salary. Salary creates accrued and vested right.
You can take resign and pay all dues then re-hired with negotiable salary then it will be possible as per my legal view.
Asif Amin
Advocate High Court
Karachi, Pakistan

From Pakistan, Karachi
Dear sir
iIn my opinion you should not reduce the salary of the employees. Instead of reducing the salary of the employees you can put it it on hold a some time at some kind of percentage till the time the company will be in the profitable situation.
If you reduce the salary of the employee, it will affect their future whenever they will apply for the new job. Because every company is deciding the new salary of the employee basis on the last salary drawn.
As per my opinion if company will think about the future of the employee then definitely employee will be stand with company in their losses or in the bad situation. Please think about the future growth
As well as about the legal things you can put them on contract basis or on professional basis where there's no need to compile with minimum wages act.
Regards Nilesh Kadam

From India, Mumbai
No one is advocating reducing salary under normal circumstances.
It is desperate measure to save more jobs rather than save few jobs. In such situation you need to see pros and cons for employees. More jobs at less salary or few jobs at higher salary.
The sector is also important. Reducing salary in manufacturing doesn't give much savings as percentage of salary as overall cost is very less. The largest part is material cost.
Another point-Putting employees on contract does not absolve employer paying minimum wages. You need to pay minimum wages in all conditions.

From India, Mumbai

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