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Doesn't sound like this current company is going to cooperate in any way in letting you work reasonable hours or find a way to reach retirement without risking burnout (or more health issues). What a shame after a great year, the first thing the galactic overlords want to do is force a paycut and take away from the people who work there. I think you are right to start looking at what alternatives you have, even if it's only for a few years. Better to have some measure of control or know what alternatives you may have before they crush you.
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