If a company employees you as full time...can they make you part time?

[choc lover]

I am with big company been employed as full time, but there are talks about trying to get people to go part time so they have a more flexible work force, we have had to have an informal chat about weather we would volunteer to go part time...but even though its informal still had to sign a document agreeing to times and days we can work etc??. and at bottom of this it stated that there will be no change to your working hours at the foreseeable future...I didn't sign it ...should I be worried??

[buildersmate]

Should you be worried about what?
The company appears to need to cut its costs and is exploring various methods of doing this. One of these appears to involve reduce working hours across the boards as an alternative to cutting specific jobs (redundancies). Many companies have chosen this option.
I'm not clear what the purpose of this document is, then - presumably employees are being asked to sign that they have seen it and have been consulted with, as part of the process. A somewhat pointless exercise.