A new three-year Memorandum of Agreement was signed yesterday between the management of Banks DIH Limited and the General Workers Union (GWU) paving the way for a new wages package and other benefits.
A press release from Banks DIH said that the signing ceremony was held in the Boardroom of the Ministry of Labour, Brickdam on November 24th, 2021 and was supervised by Chief Labour Officer Dhaneshwar Deonarine.
Employees 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.
Andrew Carto, Human Resources Director who signed on behalf of the Company expressed gratitude to the Union for the professional way in which the negotiations were conducted over a three-week period.
“I am happy to say that we were able to arrive at a consensus where we now have a 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,” he said, according to the release.
Carto conveyed appreciation to the Union on behalf of Clifford Reis, Chairman/Managing Director.
General Secretary of the GWU, Pancham Singh said the Union is pleased with the agreement. “The negotiations were done virtually in light of the Covid-19 pandemic and both parties showed mutual respect during the consultations. We have a very long and cordial relationship with the Company and we would like to maintain that affiliation, he added.
