June 10 Reuters British luxury carmaker Aston Martin said on Monday it would raise annual pay by 4 for more than 2,500 employees and contractors across its UK manufacturing sites and offices for 2024 and 2025.

Manufacturing technicians at the Londonlisted company will also receive a 1.5 rise in 2025, alongside a one hour reduction in the working week, it said.

All eligible employees will also receive a oneoff payment of 1,000 pounds 1,271.60 due to the continued high cost of living, Aston Martin added.

Following lengthy negotiations between Unite the Union and Aston Martin Lagonda, Unite members have voted in large majority to accept the twoyear pay deal, a spokesperson for Unite said in the statement.

The pay deal comes as Aston Martin stopped production of old models ahead of a rampup of production of fresh models later this year.

1 0.7864 pounds

Reporting by Yadarisa Shabong in Bengaluru; Editing by Eileen Soreng

Source Reuters