Hi, I am working for a Korean company that went bankrupt and was bought by another Korean. The new CEO absorbed the employees and registered a new business with SEC. The management now wants to change the old contracts and wants to make our salary on a per day basis (No Work No Pay) as opposed to the monthly salary that we have been receiving before. Is there anything under the labor law that prohibits them from doing this? or is there some provision in the code that says regular employees should be paid a basic monthly salary instead of per day which is more common for contractual or casual employees? Would appreciate feedback about this.
Thanks in Advance...