Aston Martin has completed a new long-term agreement, increasing pay for its workers and committing to reduce the contractual hours of manufacturing technicians in 2025 “to promote a positive work life balance”.
Around 2,500 eligible employees and contractors across the UK manufacturing sites and offices benefit from the new deal which provides a 4% annual pay increase in 2024 and 2025. In addition to a 4% increase in 2024, manufacturing technicians at the company will receive a 1.5% rise in 2025 alongside a reduction in working time by the equivalent of one hour per working week with the goal of “boosting productivity and supporting employee wellbeing”.
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All eligible employees will also receive a one off payment of GBP1,000 “recognising the continued high cost of living”.
In 2023, the company also launched a new employee share scheme, awarding all employees a stake in the company.
Achieved following talks with the Unite union, the new agreement was “welcomed” by trade union members in an employee ballot and confirms pay and conditions at the company for the next two years.
A Unite spokesperson said: “Following lengthy negotiations between [the union] and Aston Martin Lagonda, [our] members have voted in large majority to accept the two year pay deal.”
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