Unfairly treated

[Alice2360]

Myself and my colleague were promoted about 12 months ago to run the nursery we work in. Our then manager created a job list which we would each be responsible for. She began training us by basically being with us whilst she sis most of the jobs in the list - but not all. Due to circumstances our manager was then located elsewhere. Our training was not complete. However my colleague and I have continued to do our best and learn on the job. Meanwhile a new person has taken over our managers job - this person does not have early years experience and is learning from us. Over the last cohoes of months she has piled more on to our workload and not given us more time to complete everything. We have been to her for support and explained we are feeling a bit stressed and overwhelmed by all of the tasks and the additional tasks placed on us as we do not have enough time to get this all done. We said we will need to re prioritise things according to what’s she’s asking for. She has then come into us this morning whilst we were working with the children and sat us down in a small room attached to our nursery. She said she has reflected on how stressed we are and basically wants us to re read our contracts (these have slightly changed and more jobs added and clauses to say we do whatever the business needs of us) and tell her by tomorrow if we want to keep the job or have a lesser job in the setting. She would not give us any other info of what that would look like or what that would mean for the nursery. We may need to re apply for a job. We were given no answers. We explained that we only wanted support from her and she has taken it to a different place! We have also been privy to other information recently regarding the nursery and that they may have to make cut backs and are being careful with money etc.
I would appreciate any help into this. Is it okay for our manager to do and say this to us ?