Hyundai Motor India, a wholly-owned subsidiary of Korean automaker Hyundai, has successfully reached an agreement with its workers union on wage settlement.
Hyundai India’s recognized workers union, the United Union of Hyundai employees (UUHE) has agreed for the settlement that provides average salary increase of Rs 19,000 per month spread over three years for technicians.
The three year wage settlement will be implemented with retrospective effect from April 2015 and will remain effective until March 2018.
Technicians, as per the agreement, will get 50 percent of the salary hike in the first year and 25 percent each in the remaining two years. This means a salary hike of Rs 9500 a month will be offered in the first year and Rs 4750 a month in the second and third year respectively.