Wage Freeze

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Related to Wage Freezes: price freeze, Wage restraint

Wage Freeze

1. A policy in which a company refuses to raise wages and salaries for a period of time. A wage freeze is usually instituted when a company is having a difficult time financially and wishes to avoid layoffs or other cutbacks.

2. A policy in which a government forbids or severely restricts rises in wages and salaries for a period of time. A wage freeze is usually instituted to combat inflation, but the policy often does not have its intended effect.
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TOMORROW unions and employer organisations could be headed for a confrontation as the latter announced on Tuesday that they would seek an official wage freeze and suspension of the Cost of Living Allowance (CoLA) for collective agreements in the private sector for two years.
Pay analysts IDS said wage freezes were almost as rare now as deals worth over 4 per cent.
Angel Alvarez, regional representative for Service Employees International Union Local 888, said recently it appears the town is headed toward a wage freeze Jan.
In addition to concessions from the 90-person drivers union, the paper also recently struck a new deal with the 400-member mailers union that voted last month to approve a new contract that includes a three-year wage freeze and the buyout of 100 of its members.
The RAB has proposed a wage freeze for workers, while the Local 32BJ maintains that service workers actually require a wage increase with their new contract, as living in New York City becomes more and more expensive.
Tony Walsh, co-head of corporate banking UK & Ireland at Barclays, said: "After an extended period of wage freezes, which have been tough for employees, it's good to see that so many North East employers will be increasing wages in the coming year.
The statistic, exposed by the TUC, shows the impact of wage freezes and benefit cuts.
MEDIAN pay rises have fallen back to 2.8% because of wage freezes in the public sector, but are higher in private firms, according to a new report.
Bryan Jackson of PKF blamed the figures on a "higher proportion of public sector jobs being cut, wage freezes in the public sector and more speculatively, an over-reliance on the housing bubble to fund lifestyles".
AVERAGE pay rises in industry have fallen back slightly in recent months to 2.4 per cent and wage freezes have started to creep up, according to new research today.
MEDIAN pay deals have remained at 2.5% in recent months, although no wage freezes were recorded in private firms in the quarter to July, a new report showed today.
I find this incredible at a time when thousands of workers, myself included are on wage freezes, manymore thousands areon paycuts and others have just lost their jobs it just goes to showthat they are not on the same planet as normal people.