Lockout

lockout
management action preventing employees from performing work in the organization until a labor settlement is reached. Employees are physically barred from entering the workplace.
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lockout
(1) A prohibition, usually, but not always, for a specified period of time. For example, a prohibition against prepayment of a loan.
(2) The period of time before a REMIC investor will begin receiving principal payments.

LOCKOUT: A plant or factory that is closed temporarily, because it's owners are trying to gain a negotiating advantage over the employees' union. A lockout is commonly used by a company's management if they suspect the union is planning to strike.

: Proceedings under the Conciliation Act, including latterly work done under the Munitions of War Acts, Wages (Temporary Regulation) Acts and the Industrial Courts Act; Strikes and Lockouts - these reports contain some particulars of the work of ...

strike (1904) protested the use of troops as strikebreakers; a general strike (1905) in Russia resulted in the issuance of the October Manifesto, instituting reforms; a general strike (1909) in Sweden, called against the repeated use of the lockout ...

Index-Amortizing Swaps - Swaps that generally operate as basis swaps for an initial period (the lockout period), ...

Because of a six month lockout provision, Enron was barred from immediately realizing this gain. Enron was also sitting on a large unrealized gain on a forward contract it had purchased from Union Bank of Switzerland on its own stock.

The result is a powerful document which usually reflects cooperative effort. In some cases, however, the union or the employer may resort to antagonistic tactics such as striking or creating a lockout, in order to push the agreement through.

Corporatism was intended to avert unsettling divisions within the nation, such as lockouts and union strikes. The price of such forced 'harmony' was the loss of the ability to bargain and move about freely.

The cost of this employee representation is paid by union members in the form of dues. The collective bargaining process may involve antagonistic labor strikes or employee lockouts if the two sides are having trouble reaching an agreement.

See also: Bargain, Collective bargaining, Feedback, Tip, Perfect competition