Do you get a pay cut, too? If you didn’t, they you got a raise! Congrats! If you get your current pay for your lower position, you effectively got a raise from that position’s normal pay, right?

Yay! Less responsibilites!

Depending on where you are for instance here in Canada they can't demote you or fire you when they take over it goes against the laws of the labour board (I'm in payroll) check with the labour board or work board or even your companies head office (if your in a big company) and find out what the rules are for your area this happened to my dad and he ended up getting a big settlement from the company he used to work at just before he got head hunted for another company.

please tell me you talked to your boss

least you still have a job, i guess.

Always get it in writing!

yay to looking for a new job that appreciates you!!