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giveback

   Also found in: Dictionary/thesaurus, Wikipedia 0.01 sec.
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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This isn't a water giveback -- things are too far gone for that -- but it is a creative diversion of the river that allows it to nurture nature as it rolls south to L.
Unions in any industry are loath to contemplate givebacks.
for $280 million in annual givebacks violates US bankruptcy law and should be blocked.
 
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