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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Hoboken asked the court to dismiss certain counts of the plaintiffs' suit, most of which contended that the city had no statutory authority to condition the redevelopment plan on the givebacks or to negotiate for them.
Your proposal would have resulted in a league-wide giveback by the players of 576M in 2011 increasing to 1.2 BILLION in 2014, for a total of more than 3.6 BILLION for just the first four years.
There is still a chance Congress could add language to a measure, such as the Medicare "giveback bill," during a post-election session scheduled to begin the week of Nov.
The university Dunn portrays is a financial institution that takes advantage of the poverty of its surroundings to force contractual givebacks. She finds the subtext of a Yale education in the words and actions of the nonacademic employees and in the administration's largely successful effort to disguise their corporate goals in education tradition and academic cachet.
For example, a number of contracts in recent years have included concessions or givebacks, and some companies have moved into new areas with different formats that have included lower wage levels or were not unionized.
The commission's guiding principle should be that a broad tax base with low rates is far superior to a regime of higher rates riddled with "givebacks" to various industries and companies.
EEA should work to ensure that givebacks take place only after necessary cuts in staffing and other areas are in place.
threatened to close the paper if $20 million in givebacks were not approved by six unions, including the Guild.
Downtown experienced a drop in vacancy rates in all building classes in 2004, despite the addition of a large amount of space through new additions and large space givebacks. Overall, the Downtown vacancy rate fell just one percentage point, dropping to 11.8 percent at year-end 2004 from 11.9 percent at year-end 2003.
In the March issue's readers' survey, "Engineers Speak Out," I'm guessing the 8.2 percent of those who said cost givebacks have a positive impact on quality must work for the OEMs.
UNLESS CONGRESS INTERVENES, TEMPORARY Medicare givebacks granted to nursing homes in 1999 and 2000 will expire Sept.
The employees' association was unable to regain "givebacks" it had accepted in 1986, but vowed to continue pressing for restoration during the contract period.