Hyundai Motors India has entered into a new wage agreement with its workers. The three year wage agreement with UUHE (United Union of Hyundai Employees) will be from April 1, 2012 and remain effective until March 31, 2015, amounting to 45 per cent over the three year period.
The wage increase ranges from Rs 11,000 to 13,000 excluding components like DA and benefits. However, the workers will get 40 per cent of the hike in the first year and 30 per cent over the next two years. Hyundai joins Maruti Suzuki as the second manufacturer to significantly increase the wages of its workers.
MSIL had hiked the pay of the workers at its Gurgaon plant by up to 75 per cent as a part of three year wage settlement. They now get between Rs 14,000 to Rs 22,000 depending on seniority, experience and are among the highest paid workers in the manufacturing sector.
