wage restraint

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Wage Restraint

An agreement between an employee and an employer not to demand wage or salary increases. Wage restraint may occur when a company is facing losses or lower profits and needs to live within its means. The employee may receive concessions (such as better health insurance) in exchange for wage restraint.

wage restraint

see PRICES AND INCOMES POLICY.
References in periodicals archive ?
That will not change until the rules regarding wage restraints are changed.
This is more than many hardworking people would be glad to earn in a year because of the cuts and wage restraints of these uncaring, out-oftouch ministers.
I do understand however that I am the only local councillor in Wales to have refused the recent pay rise awarded to county councillors and have also voluntarily taken a further pay cut of my existing allowance which represents an annual reduction of PS800 per annum in empathy with all public and private sector workers currently subject to continuing wage restraints.
However, the huge rises in energy prices, together with food inflation and wage restraints will increase the pressure on household budgets and, therefore, spending power.
We as a nation are so in debt that we have to implement savage spending cuts that will impact on our sick and disabled, while inflicting wage restraints and job cuts in all areas of society.
Gartside, also a long-serving FA board member, said wage restraints were needed.
Wage restraints imposed by ministers led to explosion of industrial unrest with rubbish left rot on the streets as dustmen went on strike.
A slow climb out of recession combined with wage restraints and high unemployment levels meant the affordability of food would remain below 2007 levels for several years, he added.
If this is true then it sends out completely the wrong signal when so many workers are facing severe wage restraints.
Companies are already trying to cut costs at western European plants through wage restraints and closing some capacity to reap the most advantage from being close to customers and avoiding hits from currency fluctuations.
Resistance from labor unions to accept wage restraints and further decreases in real wages also will complicate the effort to curtail an inflationary spiral and preserve the benefits of the devaluation.
Labour leader Eamon Gilmore also accused Mr Ahern of having "a hard neck" for calling for wage restraints in the wake of his pay rise.