giveback


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Related to giveback: grievance procedure

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 ?
The transaction between Spectra Energy and Spectra Energy Partners allows SEP to realize consistent distributable cash flow per unit and enhanced distribution coverage as a result of the redemption of units and the IDR giveback.
The researchers believe that with a giveback procedure it is possible to make a perfect division between two people that is efficient, equitable and void of jealousy.
Inspired by the TOMS model of sustainable giving through its "one for one" pledge to donate a pair of shoes for every pair purchased, Giveback Homes is a way of doing good and also good business, as Andrews puts it.
The amount of the giveback makes little difference to Americans -- 78% say members of Congress should return 5% of their pay.
We believe these massive givebacks were not justified at all by the owners, especially given recent projections by Moody's that NFL media revenues are expected to double to about 8 BILLION per year during the next TV deal.
The Medicare giveback legislation would increase Medicare payments to hospitals, physicians and other healthcare providers.
After demanding price giveback after price giveback, many firms are discovering they are still not price competitive.
A fee giveback for poor relative performance when combined with a lower asset base can push revenues below fixed costs (rent, salary, taxes, computers, accounting and report preparation, and the like).
Employee volunteerism on DocuSign Global IMPACT Day supported more than twenty organizations worldwide, including AssociacEuo da Vila Campestre in Brazil; Beggars Bush Court and Dublin City Council Housing Estate for the Elderly in Ireland; Etgarim in Israel; and Boys Hope Girls Hope, Exploratorium, Family House, Food Bank NYC, Food Lifeline, Foster Care Support Foundation, Giveback Homes, Golden Gate National Recreation Area, Habitat for Humanity, Leukemia and Lymphoma Society, Little Bit Therapeutic Riding Center, Mountain To Sound Greenway Trust, Northwest Harvest, San Francisco Parks and Recreation, SodBusters, Swords to Plowshares and Wildlife Trust in the United States.
Our commitment at the time was we would continue the GiveBack Program as long as the credit union was doing well.
The city's mandated giveback to AFSCME workers gets us nothing, unless we're among those 650 employees.
UPS and IPA have agreed to allow pilots to sign up for "voluntary options including leaves of absence, early retirements, reduced-pay-guarantee routes, job sharing and a sick-time giveback.