Thanks for all your responses. You're right, they are being very short sighted and they will learn the hard way. Most companies give Christmas bonuses, and this company is making it the worst time of the year in terms of income. I have no clue how they can't see this as detrimental even in spite of my protests. This is the sleaziest thing I have ever seen in terms of a loophole. They found a way to deny overtime, deduct holidays like Christmas from my salary, and deduct any absences I have from my salary for a year (no PTO or even sick days) - well done.

