Also found in: Financial.
Related to giveback: grievance procedure
1. A concession made by a labor union during contract negotiations: "The contract ... which called for a giveback of five sick days, was defeated by a ratio of more than 2 to 1" (New York Times).
2. Something that is rebated or returned: a tax giveback.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
(Commerce) commerce US a reduction in wages in return for some other benefit, in time of recession
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
1. (in union negotiations) a reduction in employee wages or benefits conceded by a union in exchange for other benefits or in recognition of depressed economic conditions.
2. something returned, rebated, etc.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.