Aston Martin Increases Pay and Enhances Work-Life Balance in New Long-Term Agreement
Aston Martin boosts employee pay and enhances work-life balance with a new long-term agreement.
The new deal will benefit over 2,500 eligible employees and contractors at Aston Martin's UK manufacturing sites and offices. The agreement includes a 4% annual pay rise for general staff in 2024 and 2025. Additionally, manufacturing technicians will receive a 1.5% pay increase in 2025 and a reduction of one working hour per week to improve productivity and support wellbeing.
All eligible employees will also receive a one-off £1,000 payment to offset the high cost of living. This builds on Aston Martin's ongoing support for its workforce, which included a significant pay increase in January 2023, aligned with the Retail Price Index.
In 2023, Aston Martin introduced a new employee share scheme, giving all employees a stake in the company’s success.
Chief People Officer Simon Smith stated, “This agreement, achieved through our positive relationship with trade union colleagues, underscores our commitment to our people and makes Aston Martin a great workplace. It supports our colleagues amid the high cost of living and the COVID-19 pandemic. This deal promotes talent retention, ensuring labour certainty as we ramp up new models to drive our financial goals in 2024 and beyond.”
Following productive talks with Unite, trade union members approved the new agreement in an employee ballot. This agreement confirms pay and conditions for the next two years.
A spokesperson for Unite the Union commented, “After extensive negotiations, Unite members have voted overwhelmingly to accept the two-year pay deal. This deal strengthens our relationship with Aston Martin, delivers a significant pay rise, and improves work-life balance, promoting wellbeing for our members.”
