Despite the slowdown in the market and experiencing troubled times, Tata Motors has announced that it will hike wages of its employees for the current fiscal year. It stated that the increment will not be to the tune of last year, nevertheless, there would be some hike in the wages.
"There are companies that haven't raised wages this year but we are definitely looking at giving wage increases," said Tata Motors, Human resource vice-president S.J. Tambe. He also stated that the increment has not been finalized so far and an official announcement for the same shall be made on July 1.
Tata Motors has also reinstated more than 700 of its casual workers that were laid off in September and November 2008 due to block-closure of its Jamshedpur plant. Tambe was speaking to the media on the sidelines of a business conference organized by Indian Chambers of Commerce. "The increment would be in single digit this year. We reduced the amount of increase that would go into the basic and introduced what is called merit allowance, which is linked to performance," he said.