A change of leadership at the top at Tata Motors has paved the way for settling an 19 month pending wage agreement at the Pune plant of Tata Motors. Tata Motors and the Tata Motors Employees’ Union signed the agreement on Tuesday. The wage settlement has been signed for a period of three year from September 1, 2015 to August 31, 2018.
The total wage package is bifurcated as – a fixed rise of R8,600 (in the ratio of 72%, 15% and 13% for a period of 3 years) and R8,700 non-actual that is a total of R17,300. The wage hike is related to the measurement of performance which has been accepted by workmen. In addition to the amount, the company has also agreed to pay a gratuity amount to the families of deceased workmen.