giveback


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Related to giveback: grievance procedure

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.

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.
References in periodicals archive ?
Through our Giveback Program, customers can identify a portion of their purchase to be sent to a designated partner, and to have Friends of Jaclyn as our first partner is a tremendous honor," said Rob Brown, Co-Owner of Teambrown Apparel.
Related: 3 reasons Lemonade's CEO wants to disrupt the insurance industry The beneficiaries of this year's Giveback include a homebuilding project in El Salvador, a well-water project in Malawi, a meal-delivery service in New York City that caters to homebound seniors, a childcare center that caters to families in need, and Teach for America, the 28-year-old nationwide nonprofit that trains and sends teachers to work in low-income neighborhood schools.
The researchers believe that with a giveback procedure it is possible to make a perfect division between two people that is efficient, equitable and void of jealousy.
Now, less than three years after that trip, Andrews, with help from his wife, Tricia, has launched Giveback Homes, a national network of real estate agents and mortgage brokers who give away a portion of their commissions to help build homes for people in need.
In response to two suggested giveback amounts, 78% of Americans favor Congress members returning 5% of their pay, and 79% favor Congress returning 25%.
From the givebacks that I got here, without having anything, that was my giveback.
Although the art auction is over this year, there is always an opportunity to donate to the organization, such as getting a Lawrence GiveBack card.
After another year of composting with only comfrey and some old straw, Klehm delivered a fluffy compost--that tested negative for fecal bacteria--in 2-pound bags printed with "The Great Giveback.
Your proposal would have resulted in a league-wide giveback by the players of 576M in 2011 increasing to 1.
The Ufone Volunteer Group which has been created to help giveback to the society, went to visit and spend some time to share the importance of a green and healthy environment.
Bahrain has welcomed us with open arms and we are determined to giveback to them with our state-of-the-art services.
We will continue to work with the non-active employees to round out the remaining amount of our giveback target over the next few months," AIG said.