Tata Motors to hike wages despite slowdown |
|
- Tata Steel awarded the SA8000 certification for the third time
- TATA Steel pays homage to Sir Dorabji Tata
- Tata Steel to have hockey academy
- Tata Steel ramping up capacity to 21 million tonnes
- Tata Steel gets clearance to explore Ankua mine
- Myanmar ruler inspects TATA Motors plant in Jamshedpur
- Gen Shwe to visit Tata Motors plant
- See slowdown in Aug, iron ore prices to fall: Tata Steel
- Steel Strips sets up manufacturing unit in Jamshedpur
- Tata Steel to raise $2b in new equity
- Naxalism affecting Jharkhand industries, says Tata official
- Tata Steel's Rs 15K-cr Jamshedpur expansion plan gets MoEF nod
- Tata-SAIL JV bags coal mines in Jharkhand
- Tata Steel takes Rs 2,009-crore knock on Corus recast costs
- Tata Steel to tweak tenure for suppliers' contracts
KOLKATA: Auto major Tata Motors on Monday said it would hike wages of its employees this fiscal despite the effects of the slowdown, though the
increment may not be in tune with that of previous years.
"There are companies that haven't raised wages this year but we are definitely looking at giving wage increases," Tata Motors human resource vice-president SJ Tambe told reporters here on the sidelines of a business conference.
The company is yet to finalise its wage increment structure and the announcement would be made on July 1, Tambe said.
During the last three years, the average wage increment was around 12-13%.
"The increment would be in single digit this year," Tambe said.
Since last year, Tata Motors has decided to pursue a policy whereby increments are being given at the overall cost-to-company level, while raising the basic salary component was restricted, he added.
"We reduced the amount of increase that would go into the basic pay and introduced what is called merit allowance that is linked to performance," Tambe said.
Talking about the laid off casual workers from Tata's Jamshedpur factory, Tambe said most of the over-700 workers employed at Tata Motors have been reinstated.
The company had laid off some of its casual workers in October and November after the block-closure of production at Jamshedpur following the economic slowdown.
http://timesofindia.indiatimes.com/Business/India-Business/Tata-Motors-to-hike-wages-despite-slowdown-/articleshow/4547927.cms