• Retrenchment due to recession

I am 46, working with Thomas cook since 1997. Currently designed Assistant manager have been asked to resign as my salary cannot be afforded any longer,I was initially told this by my Hr dept on 22 November 2012, some how , in june 2013 I was told not to resign as they have changed their decision , now again I been told December 31st would be my last date of service due to shortage of staff I been currently used. I have not received last year's increments @ bonus also. Please advise, 

Regards
Sunil pawar