Salary freeze

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Salary freeze

A temporary halt to increases in salary due to financial difficulties experienced by a company.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Salary Freeze

A temporary policy in which a company refrains from giving any workers, or a certain subset of workers, any increases in salary or wages. Salary freezes are most common in companies that ordinarily give raises at regular intervals. The policy is adopted when a company is experiencing financial difficulties and wishes to avoid layoffs, if possible. See also: Cutting Hours.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Three per cent of companies have stated salary freezes in 2018 compared to 10 per cent in 2016.
The International Monetary Fund has urged public sector salary freezes and other reforms in exchanges for loans to Tunisia's struggling economy.
Critics, for example, point out that nonunion middle managers have faced salary freezes for 15 or more years.
Job cuts and salary freezes will also be implemented across the public sector, including in education, transportation and the courts.
POLICE have used tear gas and batons to push back protesters throwing projectiles at a demonstration in Paris over public-sector job cuts and salary freezes. While the demonstration was largely peaceful, a small group of protesters skirmished with police at the end of a march to the Place de la Nation in eastern Paris.
oil services companies) have already taken often strong measures, including planned staff reductions, salary freezes, or bonus payout reductions," Weidlich said.
"After salary freezes, furloughs and a government shutdown, it is time for federal employee pay to get back on track.
So the past 12 months of salary freezes, redundancies and rising prices were actually the 'good times'.
In this era of public service cuts, where job losses and salary freezes have become the norm, it is quite a pay gulf.
University of Oregon supervisors allowed 15 workers to claim and be paid for unearned overtime and extra work hours during a three-year period to evade the financial curbs of state-mandated unpaid furlough days and salary freezes, according to an audit performed by the secretary of state's office and released Thursday.
On Thursday, the Cabinet brokered a deal with unions that scraps planned salary freezes for government and healthcare workers.