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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.
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Administrative and classified employees in all three districts agreed to roughly proportional givebacks - though not necessarily unpaid days.
Survey heralds school squeeze by The Register-Guard (Eugene, OR)
They're apparently working out "cost-cutting" measures with the unions - essentially some sort of giveback impressive enough to be a palatable alternative.
EDITORIAL RETIRING DEBATE COUNCIL DELAYS INEVITABLE HARD DECISION ... by Daily News (Los Angeles, CA)
6 billion Community America CU of Kansas City, also applauded the dues giveback as a measure of support for the league.
Missouri CU Association gives back $500,000 in 2009 dues by Rubenstein, Jim / Credit Union Times
 
 
 
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