Concession Bargaining Law and Legal Definition
Concession bargaining is a term used in labor law. It is a kind of collective bargaining in which the trade unions surrender or give back previously gained improvements in pay and conditions in exchange for some form of job security. For example, the employees may agree to surrender improvements in wages or benefits in exchange for protection against lay offs. The term was coined in the U.S. It is also termed as union givebacks or employee givebacks.
Concession bargaining is related to recession and the intensification of competitive pressure on unionized companies.
