Chennai: Car maker Hyundai Motor India Ltd (HMIL), a wholly owned subsidiary of South Korean auto maker Hyundai Motor Co., on Thursday said it has signed a three-year wage settlement contract with its workers.
The settlement comes two months after its workers in Chennai last staged protests demanding the right to organize a labour union, among other things. The Hyundai Motor India Employees’ Union was formed in 2007 and has around 1,150 members but the workers said the company had not acknowledged its existence.
“The settlement, taking into account various factors, which have escalated the cost of living, gave an unprecedented jump (in the range of 21-24%) over a period of three years,” Hyundai Motor India said in a statement.
The company said the contract would also apply to their 1,600 technicians. This is the ninth wage settlement signed with the workers committee, which comprises of seven members elected by the workers, the company said.