wage concession

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Noun1.wage concession - an agreement to raise wages
concession - a point conceded or yielded; "they won all the concessions they asked for"
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If plan members tried to negotiate more rapid funding of a retroactive benefit enrichment, the likelihood would appear to be that union members would be required to make a correspondingly greater wage concession in light of the larger employer contributions.
However, in the early 1980's, a number of companies added alternate pay systems in exchange for wage concession in union contracts.
From the firm's perspective, it is important to determine the smallest wage concession for which it would be worthwhile to offer the inducement.
Teamsters at YRCW have already made tremendous sacrifices, beginning six years ago with a 15 percent wage concession from the National Master Freight Agreement rate and a 75 percent reduction in pension contributions.
FITCHBURG - The city's firefighters have agreed to a 3 percent wage concession that will prevent layoffs and maintain the same number of engine companies that operated in fiscal 2009.
Wong had estimated a trash fee would generate $800,000, the same that a 3 percent wage concession from all city unions would realize.
Nor does it factor in a 3 percent wage concession already agreed to by several unions.
The police union is one of several bargaining units that have agreed to the wage concession since last week.
As a response, on 11 April United Airlines' parent company UAL Corp reportedly said in a court filing that the union is no longer following the progress that saw the wage concession package agreement in January this year and that the airline would ask the court to void the contract, imposing a new one instead.
The union representing pilots that work for Delta Air Lines has offered the Atlanta-based carrier a new wage concession proposal that could save the troubled airline USD705m a year.
Edewaard said he's not sure the wage concession is needed because other cost savings still might be found in the budget.
Each of Aloha's employee groups, including its non-unionized workforce of employees, managers and executives, will accept a 10-percent wage concession for 2005 and 2006 as part of the Company's plan to cut $40 million a year off labor expenses.