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Definitions from WordNet

Definitions from the Web

Wage Concession

Description

Wage concession refers to the act of employers lowering or reducing the wages of their employees, typically as a temporary measure during economic downturns or financial constraints.

Sample Sentences:

1. During the recession, the company had no choice but to implement wage concessions to avoid layoffs.
2. The union representatives negotiated with the management regarding wage concessions for their members.
3. Many employees were unhappy about the wage concessions and protested against the decision.

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