Working for CA employer as Professional "exempt" employee.

Now hear that we are to be converted to "Hourly" workers, which feels to me like I should ask for, pleeese, my own key to the Stockroom. (Sorry if I sound like a prig here, but worked hard to be at top tier of my profession.)

There IS an employment contract between employer & myself, no term to contract; it's "at will", but specifying a monthly rate of pay, benefits, etc.

It seems to me that Employer cannot change the terms of the contract without my consent, and that if I do NOT consent to the change in terms, and they insist, as a condition of continued employment, then they will have (effectively) fired me.

Does this make sense? If it does, will the unemployment compensation folks @ State of New Jersey --where legally my employment occurs-- agree??
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Are you sure this is a valid, enforceable contract? Most employment agreements don't rise to that level; however, you may want to have the document reviewed by an attorney for his/her opinion.

Having said that, if not a "contract", employment-law-speaking-wise, the employer can always treat an exempt employee as though he/she was nonexempt and pay them hourly (plus overtime, of course). It just can't go the other way.