The management of Tata Motors and the Tata Motors Workers Union have agreed upon a bonus settlement, just in time for the festive season. The Company also regularised 301 temporary employees.
According to the agreement, the employees will receive a bonus amount ranging from a minimum of Rs 23, 231 and maximum of Rs 46, 323. The average bonus amount will be Rs 36,501.
The temporary workers will be eligible for a bonus of 8.33 per cent of basic and DA. The amount will be credited to the employees’ bank accounts by the second week of October.
The union leaders have appreciated the efforts of the president and general secretary of the union for helping to settle on an improved bonus offer.
The bonus settlement agreement was signed by AB Lal, manufacturing head CBVU, Sampat Kumar, plant head, Manas Mishra, senior manager, Ravi Singh, HR head, Deepak Kumar ER head, NS Kadyan, administration head, Gurmeet Singh Tote, union president, RK Singh, general secretary, and Vishal Badshah, Ajay Bhagat, Uttam Guha, Prakash Vishwakarma and Navin Kumar.
Following the Company’s recovery from losses amounting to Rs 2000 crore, its workers’ union had been demanding better bonus, and had also sought regularisation of temporary staff.
RK Singh, general secretary, Tata Motors Workers Union has shared that better grade revision is also on the cards.
Last year, the employees had been given 10 per cent bonus and the amount had ranged between Rs 17,893 and Rs 36,018, with the average bonus amount being Rs 29,000.