Guaranteed Annual Wage

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Guaranteed Annual Wage

A pledge by a company to provide sufficient work for an employee to make an agreed-upon amount each year. The work may be irregular; that is, an employee may not be required to work one week but work overtime another.
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In turn, they were able to promise such things as guaranteed annual wages, lifetime careers, high wages, fully paid medical benefits, and inflation-adjusted pensions.
Going, going, gone
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