Number of times threatened with redundancy??

Is there a limit to the number of times I can be told I may be made redundant, then told I'm not, then told I am etc.

I was told before xmas i may loose my job. Then told not going to but have to take a pay cut. 2 weeks later told again that I am at threat, now being told not redundant just for now.

Is this right??

There's nothing specific saying how many times possible redundancy can be mentioned, no. It's not very good practice though, obviously, as it leaves everyone up in the air and not sure where they stand.

It sounds as though your employers are very unsure of what's happening at the moment. Is it just you in this situation? If it is I would suggest you ask for a meeting with your manager, say you are feeling concerned about the situation and insecure in your job and would like some concrete information and reassurance. If he/she is able to communicate a bit better what's going on, so you understand the changes, that should help you at least feel a little better about the situation.

If it affects a whole group of employees, are there employee reps or a union who could approach management and ask for clarity? If not, you could perhaps delegate a couple of people to speak on everyone's behalf.