giveback

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Giveback

The surrender of benefits or wages by the employees of a company. That is, a giveback occurs when the management persuades the workers to agree to a reduction in wages and/or benefits. Givebacks reduce a company's overhead and, for that reason, tend to please shareholders. However, critics maintain that they are bad for the company's long-term sustainability. See also: Labor relations.

giveback

The relinquishment by employees of certain existing benefits or contract provisions. For example, many companies engaged in manufacturing have asked for employee givebacks on the premise that lower costs are needed in order for the companies to be more competitive with foreign producers. Givebacks are good news for investors because they result in higher profits or smaller losses for the company obtaining the concessions.
References in periodicals archive ?
Your proposal would have resulted in a league-wide giveback by the players of 576M in 2011 increasing to 1.
When Congress adjourned in October to hit the campaign trail, the House had passed its Medicare giveback bill, but the Senate measure had only cleared the Finance Committee.
The university Dunn portrays is a financial institution that takes advantage of the poverty of its surroundings to force contractual givebacks.
The district must make significant cuts before asking for givebacks.
The city also began talking with public employees' unions on possible layoffs, furloughs or givebacks even as millions of dollars in new wage increases are pending for firefighters and mayoral, council and other staff members.
2 percent of those who said cost givebacks have a positive impact on quality must work for the OEMs.
UNLESS CONGRESS INTERVENES, TEMPORARY Medicare givebacks granted to nursing homes in 1999 and 2000 will expire Sept.
The givebacks included a cut to one-quarter pay, from onehalf, for on-call assignments, and cuts in educational reimbursements.
Some 45,000 CWA and IBEW members spent two weeks on the picketline to force this $100 billion company to bargain fairly, not continue to demand givebacks of $1 billion a year.
Even with the givebacks and concessions management is seeking, WRTA's unionized members would be in good shape.
Administrative and classified employees in all three districts agreed to roughly proportional givebacks - though not necessarily unpaid days.