Tata Motors reaches long-term wage settlement with union in Sanand
Tata Motors Worker Union members with Neeraj Agarwal, Head Sanand Plant and Vivek Bindra - Head HR, Sanand Plant signed the LTS agreement for Sanand for a period of 5 years.
The long-term wage settlement between the Tata Motors Sanand Union and Tata Motors was amicably agreed upon and signed for a period of five years, w.e.f October 2015 to September 2020, Tata Motors said in a statement.
The total wage package allotted is Rs 16,000 and will be spread across the LTS term uniformly. In addition to the amount, the company has also introduced a performance linked payment, which is accounted as 10 per cent of total salary and will be linked to productivity, quality and safety. This new measurement of performance has been well received by workmen,Tata Motors said.
The annual bonus linked to performance covering all permanent workers was also agreed upon.
Additionally, other benefits such as transport and canteen facilities and various other facilities, like rationalisation of leave rules and block closure days up to 24 days per year were mutually agreed.
Speaking on the occasion, Gajendra Chandel, Chief Human Resource Officer said "We have strived to resolve the LTS issue and today are delighted to have resolved the matter for the long term, ensuring our business operations' competitiveness on one hand, and taking care of the well-being of our shop-floor colleagues on the other. Moreover, the union, which was recently formed, is very supportive in ensuring workmen derive maximum benefit through this wage settlement. In the true spirit of the Tata culture, I personally urge all the workers to follow suit."