Quite possibly "Yes".
There was a discussion here on this thread several eons ago of a legal device known as SOSR ( Some Other Substantial Reason). SOSR, it would seem, may well allow a Company to
impose contract changes if it can show that failure to do so would threaten the survival of the business...
Some interesting (?) reading here, particularly the opening paragraph:
Unfair Dismissal - Some Other Substantial Reason: Employment Law: Michelmores Solicitors