This is time-sensitive, any advice, no matter how minor would help greatly. Please leave a voicemail/email or two at the number/email address listed when feasible.

I was hired on with this company on July 5th, 2018. I was given a contract for the employment as (position A), where I was to work an afternoons shift getting $16/hr plus 0.45 cents per hour as a benefit of working the afternoons shift. Then, the afternoons shift was cancelled and those working on the prior shift were brought in to work on day shift instead.
On September 18th, I was given another contract but this time for a full-time position as (position B) instead of (position A).
In those terms of employment, it lists my date of full-time hiring was to commence September 24th. That the first 3 months of my 'continuous active employment' will be a probationary period. During that time the Company may terminate my employment without notice at any time, and for any reason whatsoever.
It details that the Company reserves the right to terminate my employment at any time with just cause without notice, or pay in lieu of notice and without compensation of any kind. Or at any time without cause upon the Company providing me with only the minimum entitlement under the Ontario Employment standards act, 2000.
By signing, I've confirmed that the termination provision above is fair and reasonable and contains my complete entitlements in the event my employment is terminated without cause and is in full satisfaction of any and all claims and/or entitlements pursuant to this agreement, statute, common law or otherwise.

On Friday Nov 23rd, I was advised that there was no work available for me as a (position B) available, and that I would be working as a (position C) now, rather than being laid off. Starting Nov 25th my new rate would be $14.40 per hour.
I haven't signed or been presented with the new contract yet but will be on Monday when going in. A drop in pay from $16.45, to $16, now to $14.40, still without possibility of full-time employment.
The company says it is temporary, that once there is more work, there will be opportunity to resume a position. Of (position A) again or (position B); I'm uncertain.
I haven't taken any sick days, I've shown up on time every day, but a drop of $1.60 per hour impacts me greatly. When asked if I would be accepted back before new hires would be brought on instead, they had said it was none of my concern. Which seems further disloyal, considering that I have made every effort on my end to be as good an employee as possible in the hopes that they would keep me on and that I would have gainful employment.
Is this allowable for them to continue to drop and drop my pay rate and position? Do I have any legal recourse at all?

I'm worried that if I don't sign the new terms to be given to me tomorrow that they will have reason to fire me.
If there are any options available to me, please let me know as soon as able. Please leave a voicemail and number+extension for me to contact you back via as soon as I am able to.

Thank you very much for your time, bless you and your team for helping people with struggles such as these.