We have a master data file that about 50 other related spreadsheets have
formula links to.

Permission to this master file has now been restricted for many people so
when they open some of the other 50 files the links don't work to master file.

Can we cut and paste (rather than just copy) the master file to another
location and will the links follow the file to the new location?

If not, is there a bulk way of changing the addresses in the formulas to the
new location of the master file. Ideally for all 50 at once or at worst for
all tabs in each file at once.

Thanks
Rick