Definition of giveback in English:

giveback

Line breaks: give|back
Pronunciation: /ˈɡɪvbak
 
/

noun

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

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