Aston Martin secures long-term pay agreement for 2,500 workers

Warwickshire headquartered Aston Martin has signed a new long-term agreement to increase pay and reduce working hours for its manufacturing technicians in 2025.

Over 2,500 employees and contractors across its UK sites will benefit from this new deal.

It includes a 4% annual pay increase for all staff in 2024 and 2025, while, manufacturing technicians will receive an extra 1.5% pay rise in 2025 and their weekly working hours will be reduced by one hour.

All eligible employees will also receive a one-time payment of £1,000 to help with the high cost of living, adding to the pay increase given in January 2023 in line with the Retail Price Index.

In 2023, the company introduced a new employee share scheme, giving all employees a stake in the company.

Simon Smith, chief people officer of Aston Martin, said: “Achieved through our positive working relationship with trade union colleagues, this new agreement recognises our commitment to putting people at the very heart of our organisation and making Aston Martin a great place to work. It builds on our continued support for colleagues with the high cost of living and throughout the COVID-19 pandemic.

“In addition to rewarding our skilled and dedicated employees, this agreement also promotes talent retention, providing labour certainty for the business as we enter an important period of production, with the ramp-up of new models that will support the company’s financial goals in 2024 and beyond.”

A spokesperson for Unite the Union said: “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. Unite believes that this deal promotes the working relations built with AML, along with delivering a substantial pay rise and improvements on the work-life balance of our members, promoting wellbeing.”