Industrial Action

Cooling-Off Period
A cooling-off period is an interval designated by regulation or agreement, during which specific actions, such as the launching of securities to the public or striking by a union, are prohibited to provide time for due consideration and resolution.
Hit The Bricks
A colloquial term used to describe employees going on strike against their employer, usually as a protest against labor conditions, wages, or other employment terms.
Strike Notice
A formal notification given by a union to an employer and relevant mediation agencies, signaling an imminent strike action due to unmet demands or rejected offers.
Strike Vote
A strike vote is a vote cast by members of a union to authorize a strike against an organization. A clear majority is required for the vote to be effective, but the union leadership decides the timing and occurrence of the actual strike vote.
Sympathetic Strike
A sympathetic strike occurs when workers who are not directly involved in a dispute with their employer strike to express solidarity with workers who are on strike in another industry or sector.
Walkout
A walkout is a sudden work stoppage by employees aimed at securing an improvement in working conditions.
Work Stoppage
Any interruption of work by employees for the purpose of improving working conditions, usually unexpected and unannounced.

Accounting Terms Lexicon

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