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Webster 1913 Edition

Noun.

The closing of a factory or workshop by an employer, usually in order to bring the workmen to satisfactory terms by a suspension of wages.

See also: lock-out and lock out

lockout ‎(plural lockouts)

The opposite of a strike; a labor disruption where management refuses to allow workers into a plant to work even if they are willing.
The action of installing a lock to keep someone out of an area, such as eviction of a tenant by changing the lock.
(computing) A situation where the system is not responding to input.

opposite of a strike