'Lockout' definitions:

Definition of 'lockout'

From: WordNet
noun
A management action resisting employee's demands; employees are barred from entering the workplace until they agree to terms

Definition of 'Lockout'

From: GCIDE
  • Lockout \Lock"out`\, n. 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. [1913 Webster]