Motor (IYM) Pvt Ltd has signed a long-term wage settlement with the company’s internal employees union ‘India Yamaha
Motor Thozhilalar Sangam’ for its Chennai factory.
The company declined to give any details.
The three-year wage settlement will be implemented with retrospective effect from April 1, 2019, and will remain effective until March 31, 2022. The settlement will be applicable to all the permanent employees in Yamaha’s Chennai factory.
The settlement concept of wage fixation is based on three parameters - individual performance, shop performance and plant performance.