Definition of giveback noun from the Oxford Advanced Learner's Dictionary

 

giveback

 noun
noun
BrE BrE//ˈɡɪvbæk//
 
; NAmE NAmE//ˈɡɪvbæk//
 
(North American English)
 
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a situation in which workers agree to accept lower wages or fewer benefits at a particular time, in return for more money or benefits later
See the Oxford Advanced American Dictionary entry: giveback