No more PTO at all. How to proceed?

I work maintenance full time at a hotel in CT and had no idea this was posted in the back office (I don't go back there often) until someone showed me a picture they took of this posted memo. This has apparently been there since the beginning of the year. Obviously this sucks big time, and now all we get is the state minimum 40 hours sick time per year. Unfortunately I really do enjoy working here, but the ownership is so greedy. I was thinking after my two days off I'll talk to my boss about it, but im not sure what I can say except something like: unless this changes I may have to leave? I don't get paid much more than minimum wage so I was going to ask for a raise once my one year mark came around, but my hopes are low now. Supposedly management conducts yearly performance reviews and all that and discuss raises and whatnot in a meeting, but from what ive heard from other employees who've been around a few years longer they've just not been doing those at all recently. Sorry for the wall of text. I'd appreciate any advice on how to handle this situation. Obviously there's no rush or urgency really, but it's something that must be addressed and I'd rather do something sooner than later.

Author: HeatedCha0s