REUTERS - Tata Motors Ltd reached a long-term wage settlement with workers at Sanand plant in Gujarat.
The settlement includes a total wage package of 16,000 rupees ($248.96) per worker, excluding the salary, to be paid uniformly over the five-year term of the agreement, a company spokesperson told Reuters.
The agreement introduced a performance-linked payment accounted as 10 percent of the worker's total salary, Tata Motors said in a statement.
The settlement, which spans from October 2015 to September 2020, includes an annual bonus based on performance for all permanent workers at the plant.
($1 = 64.2675 Indian rupees)
(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Sherry Jacob-Phillips)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
