1. a concession or benefit that an employee or union agrees to surrender, typically in labor negotiations or contract renegotiations
Usage: often used in plural form 'givebacks'; common in labor relations and business contexts
2. a return or restoration of something previously taken or lost
Usage: less common than the labor sense

Examples

• The union negotiated to avoid major givebacks in the new contract.
• Workers were asked to accept wage givebacks to help the struggling company.
• The contract included several givebacks on healthcare benefits.
• Management demanded givebacks from employees as part of the restructuring plan.
• The union resisted the proposed givebacks during negotiations.