However, once a contract has been made, it cannot be unilaterally altered, so there are limits on the powers of employers to alter contractual terms. Problems of relying on the contract of employment to provide employment protection. An employee can be dismissed on the expiry of the notice period for any reason, and indeed the employer need not justify the dismissal. Similarly non-renewal of a fixed term. There is no minimum notice period, and no loyalty bonus.
Contractual remedies are very limited, even if the employer is in clear breach.
There is no concept of contributory fault - merely an all or nothing test of whether or not the employee is in repudiatory breach of contract. Contract looks entirely to form not substance. The legislature accordingly added to the contractual remedies statutory remedies for redundancy and unfair dismissal. Not compensation for loss of job. Only makes sense from management perspective.