[giv-bak] /ˈgɪvˌbæk/

(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:
Givebacks have not slowed the number of shutdowns.
something returned, rebated, etc.:
Givebacks to dealers have increased car sales.


Something previously granted, esp in a labor contract, that must now be forfeited: The new contract has no raises and several givebacks, especially in health-care benefits (1990s+)


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  • Give away the store

    verb phrase (also give away the keys to the store) To concede too much; be overly generous: His opponents complained that Dinkins would give away the store to his friends in labor/ to reinforce the president without giving away the shop/ the Republican Congressional leaders had given them ”the keys to the store” (1980s+)

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