Employer Switched Me From Salaried To Hourly Without Any Notice. My Effective Pay Dropped By About 30%. They're Calling It A Restructuring. Location: Texas.

I've been with this company for four years. Two weeks ago my manager called me into a meeting and told me that effective immediately my position was being converted from salaried exempt to hourly non-exempt as part of a "company-wide restructuring." No prior notice, no documentation sent in advance, just a verbal meeting and then an email afterward confirming the change.

Here's the math. My salary was $67,000 a year. The hourly rate they've assigned me works out to roughly $47,000 annually if I work exactly 40 hours a week. They've also made clear that overtime requires manager approval and will rarely be authorized. So in practice I went from $67k to somewhere around $47k overnight with no negotiation and no warning. When I asked HR for documentation explaining the change they sent me a one paragraph email saying the company periodically reviews compensation structures and that my new rate "reflects current market conditions." I asked for the specific market data they used. They have not responded. I'm not the only one this happened to. At least three colleagues in similar roles received the same conversion on the same day. None of us were given a choice or asked to sign anything.

My questions are: is this legal in Texas given that employment is at will? Do they have any obligation to provide notice before cutting pay this significantly? And does the fact that they converted multiple people simultaneously and called it restructuring change anything legally?

TL;DR - converted from $67k salary to hourly equivalent of $47k with no notice or documentation. Location: Texas. At least three colleagues same situation. Is there any legal recourse here?