Local conglomerate, Banks DIH Limited has signed a new three-year agreement with the General Workers Union (GWU) for a new wages package and other benefits for employees of the Company.
Under the new agreement, employees of Banks DIH Limited will now receive an initial nine percent across the board increase for the first year and five and three percent respectively during the additional two years of the three-year agreement.
Human Resources Director at Banks DIH, Andrew Carto expressed gratitude to the Union for the cordial and professional way in which the negotiations were conducted over a three-week period.
He said he is happy to say that the two sides were able to arrive at a consensus that created the new three-year agreement which highlights the increases, benefits and allowances which would be applicable to employees of the company for the next three years.
General Secretary of the GWU, Pancham Singh said the Union is pleased with the agreement, explaining that the negotiations were done virtually in light of the Covid-19 pandemic and both parties showed mutual respect during the consultations.
He said Banks DIH Limited and the Union have a very long and cordial relationship. The Ministry of Labour has commended both parties for negotiating an amicable agreement