My company offers increases salary based on the previous years performance review. One week before performance reviews we get this email. Essentially, we worked for a year for this increased salary only to be met with this RIGHT before they were to be given out.

Good Afternoon,

The (MY COMPANY) executive team has completed a review of all business goals, objectives and processes in order to find ways to decrease expenses, increase revenue and protect the future well-being of (MY COMPANY). As a result of this analysis, and in an effort to manage company assets conservatively, the executive team has made the difficult decision to forego salary increases for all employees until further notice. This was an extremely tough decision, and we understand the impact this will have on you and your family. Please know that we considered several other alternatives, and the choice we made is the best option at this time and will have the least impact on our employees overall. 

The executive team will continue to monitor (MY COMPANY) finances and reevaluate the potential for merit increases.  We believe the outcome from this measure will better position the company for a solid financial future.  

We appreciate all of your hard work, and we know we will have your support as we all strive for continued business success. Should you have any questions, please don't hesitate to contact human resources.