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Aston Martin Enhances Employee Wellbeing With New UK Pay Agreement
Aston Martin has finalised a two-year agreement to support its employees amid rising living costs and to enhance work-life balance. The deal, approved by trade union members after discussions with Unite, includes a 4% annual pay increase for general staff in 2024 and 2025. Manufacturing technicians will receive an additional 1.5% rise in 2025 and a reduction in working hours.
More than 2,500 eligible employees and contractors across Aston Martin's UK manufacturing sites and offices will benefit from the new agreement. In addition to the pay increases, all eligible employees will receive a one-off payment of £1,000 to help with the high cost of living. This follows a significant pay increase aligned with the Retail Price Increase in January 2023.
Simon Smith, Chief People Officer of Aston Martin, stated: "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."
Smith added that the agreement promotes talent retention and provides labour certainty as the company ramps up production of new models to meet its financial goals for 2024 and beyond. The deal was welcomed by trade union members in an employee ballot.
A spokesperson for Unite the Union commented: "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."
Aston Martin Lagonda aims to be the world's most desirable ultra-luxury British brand, producing high-performance cars. Founded in 1913 by Lionel Martin and Robert Bamford, Aston Martin is known globally for its style, luxury, performance, and exclusivity. The company combines advanced technology with traditional craftsmanship to create models such as the Vantage, DB12, DBS, DBX, and its first hypercar, the Aston Martin Valkyrie.
Aligned with its Racing. Green. sustainability strategy, Aston Martin is developing alternatives to internal combustion engines with a blended drivetrain approach between 2025 and 2030. This includes Plug-in Hybrid Electric Vehicles (PHEV) and Battery Electric Vehicles (BEV), aiming for a lineup of electric sports cars and SUVs.
Based in Gaydon, England, Aston Martin designs and exports cars sold in over 50 countries worldwide. Its sports cars are manufactured in Gaydon while its luxury DBX SUV range is produced in St Athan, Wales. The company aims to achieve net-zero manufacturing facilities by 2030.
Lagonda was founded in 1899 and merged with Aston Martin in 1947 when both were acquired by Sir David Brown. The company is listed on the London Stock Exchange as Aston Martin Lagonda Global Holdings plc. In 2020, Lawrence Stroll became Executive Chairman alongside significant new investment. This marked Aston Martin's return to top-tier motorsport with the Aston Martin Aramco Formula One® Team.
The new era for this iconic British marque continues as it strives to meet its sustainability goals while maintaining its reputation for luxury and performance.
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