Meaning of the word "collective bargaining" in English

What does "collective bargaining" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

collective bargaining

US /kəˌlektɪv ˈbɑːrɡənɪŋ/
UK /kəˌlektɪv ˈbɑːrɡənɪŋ/
"collective bargaining" picture

Noun

1.

negotiation of wages and other conditions of employment by an organized body of employees.

Example:
The union engaged in collective bargaining with the company management.
The new contract was a result of successful collective bargaining.
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