Definition

A reduction in wages or benefits given back by employees, often in response to economic difficulties or in exchange for other advantages.

Example

The workers agreed to a giveback of their bonuses to help the company during the financial crisis.

Conversation

Did you hear about the giveback plan at work?

Yeah, I heard it was to help with the budget issues.

I hope it doesn't affect our benefits too much.

Same here; it's tough when we have to make sacrifices.

Synonyms & Antonyms

Root Explanation

Giveback → It is formed from "give" (from Old English "giefan", meaning to hand over or grant) and "back" (meaning to return to a previous position). The word "giveback" means to return something that was given or to restore something to its original owner.

Memory Tip

Think of the act of 'handing over' ('give') something 'back' to its original place or owner — that's what giveback means.

Visually Confused Words