I accepted and signed a 12 month contract with a prospective employer only for them to reduce it to a 6 month contract due to yearly budgets.

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Author: u/aldev94

Title: I accepted and signed a 12 month contract with a prospective employer only for them to reduce it to a 6 month contract due to yearly budgets.

Original Post:

I accepted a contract offer from a company with the contract being a 12 month fixed term contract. At the time of signing this job offer I also rejected another company offering a 12 month contract as I preferred the initial company. Now however since signing the contract they have contacted me stating they need to reduce the contract to 6 months due to yearly budgets as a 12 month contract runs into 2021. Is there anything I can do about this?

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If it is all signed and done, you can renegotiate the contract for more pay since you lose security in time employed.

I would first go over the contract and look for anything that gives them power to terminate the contract. Then make a decision from there.