(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.
Origin of giveback
First recorded in 1975–80; noun use of verb phrase give back
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019