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Can an employer retract a raise that was advertised in the job listing?

My wife's employer just informed her she would not be receiving her scheduled raise due to financial hardships.
The raise was outlined in the job posting when she applied, and there was never any word about it potentially not happening until just now.

Is this legal, as the guaranteed raise is part of the reason for taking and staying with the job?

Is there anything we can do about this?

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