Renault Nissan Automotive India Private Limited (RNAIPL) on Wednesday said that it has formally signed a three-year long term of settlement (LTS) agreement with its employee representative union, the Renault Nissan India Thozhilalar Sangam (RNITS).
The agreement will be effective from April 1, 2016 to March 31, 2019. With this agreement the plant technicians will receive a monthly salary increase of Rs 18,000 progressively over the next 3 years. The agreement includes several benefits and schemes for employees and their families. An average salary of a worker is pegged at Rs 33,000 at the Alliance plant, sources here pointed out.
The move assumes significance at a time when both the partners expect to make a giant stride in the entry level car segment with their respective products – Kwid and the just launched rediGo. Colin MacDonald, CEO & managing director of Renault Nissan Automotive India Private (RNAIPL), said: “Employees are the driving force for the sustainable growth of Renault-Nissan. Therefore, the company places great importance on establishing a workplace that maximises the performance of all.