1. Concessions or benefits that workers agree to surrender, typically in labor negotiations or union contracts, often in exchange for job security or other gains.
Usage: Usually plural; common in labor relations and business contexts
2. Money or property returned to a previous owner or rightful recipient.
Usage: Less common than the labor sense

Examples

• The union negotiated givebacks on health insurance to preserve jobs during the economic downturn.
• Workers were asked to accept wage givebacks in exchange for improved pension benefits.
• The contract included significant givebacks that disappointed many employees.
• Management demanded givebacks as a condition for keeping the factory open.
• The company offered job security in return for employee givebacks on overtime pay.
• Labor leaders debated whether the proposed givebacks were worth the trade-offs.