海角视频 sports car brand Aston Martin has agreed a new long-term pay deal with staff.
The company said it had increased pay and committed to reducing the contractual hours of manufacturing technicians in 2025.
More than 2,500 eligible Aston Martin employees and contractors across its 海角视频 manufacturing sites and offices in Warwickshire and St Athan, South Wales, are to benefit from the new deal.
It provides a four per cent annual pay increase for its general staff in 2024 and 2025.
In addition, manufacturing technicians at the company will receive a 1.5 per cent rise in 2025 alongside a reduction in working time by the equivalent of one hour in the working week, with the goal of boosting productivity and supporting employee wellbeing.
Want more business news straight to your inbox?
BusinessLive is your home for business news from around the country - and you can stay in touch with all the latest news through our email alerts.
You can sign up to receive morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
All eligible employees will also receive a one-off payment of £1,000.
This latest deal adds to an employee share scheme launched last year which has awarded all employees a stake in the company and the opportunity to share in its success.
Most Read
Chief people officer Simon Smith said: "Achieved through our positive working relationship with trade union colleagues, this new agreement recognises our commitment to putting people at the very heart of our organisation and making Aston Martin a great place to work.
"It builds on our continued support for colleagues with the high cost of living and throughout the Covid-19 pandemic.
"In addition to rewarding our skilled and dedicated employees, this agreement also promotes talent retention, providing labour certainty for the business as we enter an important period of production, with the ramp up of new models that will support the company's financial goals in 2024 and beyond."
Trade union Unite said in a statement: "Following lengthy negotiations between Unite the Union and Aston Martin, our members have voted in large majority to accept the two-year pay deal.
"Unite believes this deal promotes the working relations built with Aston Martin, along with delivering a substantial pay rise and improvements on the work life balance of our members, promoting wellbeing."