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Pay cut - cancelling zone allowance

Hello everyone,
I've been with the company for 16 years, I work as a supervisor and I am paid £10.38 per hour. I believe I am one if few remaining employees in the company who still gets extra 20p/hour zone allowance for working in City Centre. Overall my hourly rate is £10.58. 

All employees have just received and email where it states all supervisors are getting a 10p pay rise to £10.48 BUT company is getting rid of zone allowance whatsoever. They say there was a always a clause stating it's a bonus which can be taken away from us at any time. Obviously due to me signing the contract 16 years ago when it was all on paper not online I do not have any paper trail and I can't check any small print.

Basically while every supervisor in the company is getting a pay rise to £10.48 I am the only one getting a pay cut:

current rate £10.58 +10p pay rise - 20p zone allowance = £10.48 ==> 10p less then my current rate).

Do you think I stand a chance and I can challenge HR about this?

Thank you

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