Hero MotoCorp has signed a three-year wage settlement agreement with its 1,400 permanent workers at Gurgaon facility that would give them hike of about INR 12,500 spread over three year.

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The three-year agreement will be implemented with retrospective effect starting from August 1, 2015 till July 31, 2018. The earlier wage settlement was effective from August 1, 2012 to July 31, 2015.

According to an industry source, the settlement between the company's management and workers union has been reached after months of negotiations. The worker union had been demanding a hike of INR 18,000 spread over three years, the company's managed to close it at INR 12,500.

Earlier in 2013, Company had increased workerís pay by INR 9,000 spread over the three years. The workers had demanded INR 18,000 hike even at that time.

News Source: Hero MotoCorp Gurgaon workers get hike of Rs 12,500 spread over three years | ET Auto