/weɪʤ ˈsɛtəlmənt/ – Phrase
Definition: việc thỏa thuận về mức tiền công.
A more thorough explanation: A wage settlement refers to an agreement reached between an employer and employees or their representatives regarding the terms and conditions of wages, benefits, and working conditions. This agreement typically outlines the specific terms of compensation, such as hourly rates, salaries, bonuses, and other forms of remuneration, as well as any related benefits or allowances. Wage settlements are often negotiated through collective bargaining between labor unions and employers, and once finalized, they become legally binding agreements that govern the payment of wages and related matters within the workplace.
Example: The wage settlement agreement was signed by both parties, outlining the terms and conditions of the employees’ pay and benefits.