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Wage Freeze

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Wage Freeze
1. A policy in which a company refuses to raise wages and salaries for a period of time. A wage freeze is usually instituted when a company is having a difficult time financially and wishes to avoid layoffs or other cutbacks.

2. A policy in which a government forbids or severely restricts rises in wages and salaries for a period of time. A wage freeze is usually instituted to combat inflation, but the policy often does not have its intended effect.
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The plan also involves a hiring freeze, a company-wide wage freeze in 2010 and 2011, lay-offs of all cabin attendants older than 55 and additional savings of up to 37 million euros a year in overhead costs in 2011 and 2012.
BA merger partner Iberia posts third-quarter loss by AFP / AFP Global Edition
The two unions called the walkouts in a bid to pressure for pay raises after a wage freeze instituted in 2005.
Iberia cancels flights amid strike by Aljazeera.net
5 million unemployed and other workers either on a wage freeze or wage reduction.
MPs' pay rise plan a farce by Evening Chronicle (Newcastle, England)
 
 
 
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