HopefullyInLawSchool
16:12
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
employee givebacks
Read a random definition: silk gown
A quick definition of employee givebacks:
Employee givebacks refer to a type of negotiation between employers and employees where the latter agrees to give up some of their previously gained benefits, wages, or working conditions in exchange for job security. This is also known as concession bargaining or union givebacks. The goal is to protect employees from layoffs or other job-related uncertainties. It is a part of collective bargaining, which is a process where employers and employees negotiate terms and conditions of employment.
A more thorough explanation:
Definition: Employee givebacks, also known as concession bargaining, is a type of negotiation between employers and employees where the employees agree to give back previously gained improvements in wages, benefits, or working conditions in exchange for job security, such as protection against layoffs.
For example, a union may agree to a wage freeze or reduction in order to prevent layoffs or keep a company from moving jobs overseas. Another example could be employees agreeing to pay a larger portion of their healthcare costs in exchange for job security.
These examples illustrate how employee givebacks work in practice. Employers may ask for concessions during tough economic times or when facing financial difficulties, and employees may agree to give up some of their benefits or pay in order to keep their jobs.