Aston Martin boosts annual pay by 4%

Aston Martin, the esteemed British luxury car manufacturer, will implement a 4 per cent increase in annual pay for over 2,500 employees and contractors across its UK manufacturing facilities and offices for the years 2024 and 2025, according to Reuters citing the company’s announcement.

Additionally, manufacturing technicians at the publicly traded company, headquartered in London, will see a 1.5 per cent raise in 2025, coupled with a reduction of one hour in the working week.

Furthermore, in acknowledgement of the persistently high cost of living, all eligible employees will be granted a one-off payment of £1,000 ($1,271.60), as stated by Aston Martin.

A spokesperson for Unite revealed, “Following lengthy negotiations between Unite the Union and Aston Martin Lagonda, Unite members have voted in large majority to accept the two-year pay deal,” in a statement.

This pay agreement coincides with Aston Martin’s cessation of production of older models, paving the way for an anticipated increase in the production of new models later in the year.