Tata Motors Resolves Long-Term Wage Settlement Issue in Sanand
The total wage package allotted is Rs 16,000 and will be spread across the LTS term uniformly.
Image used for representational purpose. (Image: Reuters)
The long-term wage settlement (LTS) between the Tata Motors Sanand Union and Tata Motors was amicably agreed upon and has been signed for a period of 5 years, w.e.f October 2015 to September 2020.
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 for 10% of total salary and will be linked to productivity, quality & safety. This new measurement of performance has been well received by workmen. The Annual Bonus linked to performance covering all permanent workers was also agreed upon.
Additionally, other benefits like 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, “Tata Motors shares cordial working relationships with workers and members of its internal Union. We have strived to resolve the LTS issue and today are delighted to have resolved the matter for a 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. I would like to thank all the workers for their incessant support. They have been very co-operative and have supported the Company at all times. Moreover, the Union which has been recently formed is very supportive in ensuring workmen derive maximum benefits through this wage settlement.”
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