JCB’S UK employees received a double dose of festive cheer as the company announced a £500 Christmas bonus and a 5.2% pay increase yesterday.
Around 4,400 employees at JCB factories in Staffordshire, Derbyshire and Wrexham will share in the bonus worth a total of more than £2m. In addition, the company’s UK employees will receive a pay increase linked to November’s Retail Price Index (RPI) from January 1st 2012.
The announcement is a welcome reward after all employees endured an 18-month pay freeze from 2009 to the summer of 2010.
JCB chairman Sir Anthony Bamford said: “JCB has continued to recover strongly this year from the difficult trading conditions of 2008 and 2009 and all areas of our business rose to the challenge of growing sales in a tough economic environment. Last year we sold 51,600 machines and this year sales will increase by more than 30%.
“The award of another Christmas bonus and a substantial pay increase wouldn’t have been possible without team work at JCB during the severe economic downturn of 2008 and 2009 when everyone worked together to ensure the business emerged strongly from a difficult trading period.
The news follows Tuesday’s announcement that the company is to invest £31m in a new engine development project, creating 350 jobs across its Midlands and Wales plants between 2016 and 2021.