giveback

giveback

[giv-bak]
noun
1.
(in union negotiations) a reduction in employee wages or benefits conceded by a union in exchange for other benefits or in recognition of depressed economic conditions: Givebacks have not slowed the number of shutdowns.
2.
something returned, rebated, etc.: Givebacks to dealers have increased car sales.
Also, give-back.


Origin:
1975–80; noun use of verb phrase give back

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