Ok,
So let me digress. I thought you were corporate.
Under the circumstances you have expanded on, you may have a claim for wrongful discharge. Even though emloyment is either at will or in your case contractual, they really do not have a reason to let you go. But it is still a wrongful discharge to let you go so that they can hire someone else at a lower wage. (my wage assumption) If you can show you were eliminated for salary alone, because the position still exists, you would have a very good chance of succeeding with a wrongful discharge.
YOUR PAYMENT AND BONUS IF ANY MAY BE TAX DEDUCTIBLE

Edward M. Johnson