 "Tata Motors")
The permanent employee strength of Tata Motors rose 11.14 per cent year-on-year in 2022-23 (FY23) to 81,811, after falling for three years, according to the company's annual report released.
The average temporary headcount, on the other hand, decreased to 36,082 employees in FY23, from 40,717 employees in FY22, the company stated.
“Our employee costs increased by 9.2 per cent in 2022-23 to Rs. 33,655 crore from Rs. 30,809 crores in 2021-22, including the foreign currency translation impact from GBP (£) to Indian rupees," the company stated. GBP weakened as compared to the Indian rupee in FY23.
The employee costs at Jaguar Land Rover -- which is part of Tata Motors -- increased by 6.2 per cent to Rs. 24,502 crore (£2,524 million) in FY23, from Rs. 23,058 crore (£2,265 million) in FY22, due to a rise in average headcount and annual increments, it mentioned.
The rise in employee costs was more substantial for the passenger vehicles division of Tata Motors. “The employee costs for Tata Passenger Vehicles increased by 35.5 per cent to Rs. 1,723 crore in FY23... mainly due to yearly increments and various wage settlements during the year,” the company noted.
The commercial vehicles division of the company saw its employee costs rise by 10.4 per cent to Rs. 5,073 crore in FY23, the company stated.
