/giv"bak'/ , n.
1. (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.
2. something returned, rebated, etc.: Givebacks to dealers have increased car sales.
Also, give-back .
[ 1975-80; n. use of v. phrase give back ]