In response to the harsh working conditions workers have expressed anger through trade unions. Differentiate between strike and lockout in the light of the above statement.

In light of the above statement, the difference between a strike and a lockout is given below.

A strike is a situation where the workers do not work because they want to have better wages. It is a risky move on the part of the workers because the management may not decide to take them back after the strike, and they may employ substitute labours.

On the other hand, a lockout is a situation when the management closes down the factory or industry for a particular period of time. They shut down the gate of the factory and do not allow any worker to enter. It may occur due to the following reasons:

a. Bankruptcy.

b. Sale of the factory.

c. A legal case on the factory

In such a case, the management has to pay compensation to the employees or take them back.