Concession bargaining
Concession bargaining is a collectively bargained reductions in previously negotiated wages, benefits, or work rules, usually in exchange for management guaranteed employment levels during the term of a contract.
Definitions
According to Labor Relations and Collective Bargaining by Michael R. Carrell and Christina Heavrin (10th edition),
- Concession bargaining. A collectively bargained reductions in previously negotiated wages, benefits, or work rules, usually in exchange for management guaranteed employment levels during the term of a contract.
Related concepts
- Labor relations. The systematic study of attitudes, motivations, and behaviors which two or more job-market actors assume toward each another.
