After months of negotiations and intermittent unrest impacting production, Pune-based Bajaj Auto and its Chakan plant unions have finally reached a wage agreement under which the management has agreed to hike the wages by up to Rs 10,000 per month. As per the revised wage agreement, permanent employees having been with the company for five or more years will get a wage hike of Rs 10,000 a month while those having spent three years or more will be given Rs 9,500 a month. "We are happy that the Chakan union has agreed to our proposals on the wage hike, which we had come up with at the time we entered into negotiations with them," a company official said and confirmed the wage hike pact reached with its union.

Read the Economic Times news report here.