0 a reduction in employees’ pay when a business is having problems, usually made on the agreement that pay will be increased again when business improves: --
We launched our company with our giveback mission entwined with our business.
And many of the bonuses were negotiated in response to givebacks the unions made in other areas.
Introducing competition lowered fares and eliminated the surplus, forcing the rounds of givebacks, bankruptcies, mergers, and liquidations the industry has been experiencing for decades.
When the labor market is weak, employers are in a good position to demand givebacks or resist raise requests.
He's pushing for major givebacks from the workforce, including paying more towards their health premiums and downgrading future pension benefits.
Travelers have been essentially reaping the benefits of corporate charity and union givebacks as investors poured money into airline startups that ultimately failed.
