Definition of giveback in English:

giveback

noun

North American
  • An agreement by workers to surrender benefits and conditions previously agreed in return for new concessions or awards.

    ‘Management is seeking sweeping demands for increased workloads, wage and benefit concessions and other givebacks.’
    • ‘It is also reportedly considering the establishment of a two-tier system of employee benefits, cuts in dental and optical benefits for city workers, and other givebacks.’
    • ‘For one thing, public sector workers have no fear of international competition and little fear of layoffs, givebacks and other concerns that private sector workers, especially in manufacturing, must deal with today.’
    • ‘In return for these givebacks, the company offered only a 9 percent pay increase over three years.’
    • ‘The votes of airline workers on the givebacks will by counted by January 5.’
    • ‘Workers overwhelmingly rejected the giveback and the union has threatened a strike on July 25 if no agreement is reached.’
    • ‘More layoffs may be in store, he said, and those workers unable to stomach additional givebacks should look for new jobs.’
    • ‘What, though, will workers get for the latest round of givebacks?’
    • ‘Under the four-year agreement, teachers will get 15% raises - but in exchange for givebacks, including working a longer day and a longer year.’
    • ‘The only holdout could be the mechanics union, which has put up the most resistance to more givebacks, Masters said.’
    • ‘These include substandard pay and benefits for new-hires, drastic givebacks in health and pension benefits, reductions in premium pay, and the gutting of work rules.’
    • ‘The daycare workers rejected the last offer precisely because the city was demanding more in givebacks in vacation cuts and health-care benefits than it was offering in a raise.’
    • ‘Workers were told that enormous givebacks were necessary in order to keep the company solvent.’
    • ‘He's also aiming for budget cuts and labor givebacks to save $1.7 billion next year and wants an extra $600 million in state and federal aid - though he'll probably get only a fraction of that.’
    • ‘He called on the machinists to immediately begin negotiating on demands for $263 million in givebacks; the union says it has offered $100 million.’
    • ‘That's on top of $2.5 billion in givebacks in 2003.’
    • ‘And, while there have been givebacks, labor and labor costs can still slow changes the airlines want to make.’
    • ‘There could have been givebacks and rights increases if necessary.’
    • ‘That amounts to more than 421 million vacation days when all U.S. workers are taken into consideration, a giveback worth almost $54 billion.’
    • ‘Transit officials insist that the union givebacks are essential for its financial well-being.’
    give back, return, restore, pay back, repay, hand over, give up, surrender, relinquish, deliver, turn over, yield, cede

Pronunciation

giveback

/ˈɡivˌbak/ /ˈɡɪvˌbæk/