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Salary Freeze

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Salary freeze
A temporary halt to increases in salary due to financial difficulties experienced by a company.
Salary Freeze
A temporary policy in which a company refrains from giving any workers, or a certain subset of workers, any increases in salary or wages. Salary freezes are most common in companies that ordinarily give raises at regular intervals. The policy is adopted when a company is experiencing financial difficulties and wishes to avoid layoffs, if possible. See also: Cutting Hours.
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Airlines have been hard hit by the global economic downturn and Iberia last month announced a savings plan, which included a hiring freeze and a salary freeze.
Iberia staff axe strike plans after pay deal: union by AFP / AFP Global Edition
In the spring, clerical union and nonunion employees, such as department heads, agreed to the Board of Selectmen's request for a one-year salary freeze to help make fiscal 2010 ends meet.
2-week furlough to close offices; Workers to vacate Town Hall, library by Telegram & Gazette (Worcester, MA)
However, it may be more dramatic next year, as many organizations try to avoid taking other drastic measures such as layoffs or salary freezes.
Employers expect to raise employees' contributions by Arkansas Business
 
 
 
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