Updated: Aug 20, 2021

Action by employers equivalent to a strike by employees. It occurs when an employer refuses to allow employees entry to their place of work unless they agree to certain terms that have been put to them. Nowadays lock-outs are infrequent due to both the power of the trades unions and the increasing involvement of the State in industrial disputes.

Reference: The Penguin Business Dictionary , 3rd edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.