Definition of Strike



What does the term "strike" mean as it applies to companies and their workers? What is the definition of the word "strike"?

A "strike" is a work stoppage that is undertaken by a worker or group of workers in order to protest an agreement or proposed agreement with their employers.

Definition of Stike - Financial Dictionary - Labour DisputeLet's take a look at an example of a "strike":

Workers at a government agency are not happy with the fact that they haven't received a pay raise in 5 years. The government has imposed the last two contracts on the workers, and these contracts have included zero pay raises.

The workers, who are all members of a union, have decided that enough is enough. They take a vote and decide that they are going to go on strike until they can secure a deal that includes pay raises.

The workers announce their strike date and then walk off the job. The workers camp out in front of the building that they work at, picketing and chanting songs. With no workers, the government agency can not conduct its business.

Eventually the workers (through their union) and their employers meet at the bargaining table again and hammer out a deal that includes pay raises for all of the workers.

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