Can they make me drop a day?

[ExtraPineappleExtraHam]

I started working for a new business last August. It all started well but has quietened down massively in the last few months. Basically they over-employed and now everyone is worried about their jobs. The dentist announced today that she would be dropping a day in the new year. That means one less receptionist and one less nurse on that day.
My query is that they will probably ask anyone if they would prefer less hours (which no one will) and then ask one of us to cut down hours. I've checked my contract and it says that if the business doesn't need us then they can cut our hours.
Has anyone been in this position? How was it decided who's hours were cut? Did everyone take a cut or was one person singled out? Usually I think they would just wait until one person left but as we're all relatively new employees and the job pays well I doubt anyone will leave. I'm so worried as we're about to take out a mortgage based on my current earnings!

[PersianCatLady]

And in fact as you’ve been there such a short time then as long as they give minimum notice they could terminate and re-employ on new hours very easily anyway
Or just terminate one person and redistribute their hours across the others so that nobody who was still employed would have their hours cut.

[flowery]

”I've checked my contract and it says that if the business doesn't need us then they can cut our hours.”

There’s your answer. And in fact as you’ve been there such a short time then as long as they give minimum notice they could terminate and re-employ on new hours very easily anyway.

In terms of how they’ll decide who’s hours to cut, you’ll need to ask them for details of how that decision will be made, and when.