More than 5,000 JCB employees in the UK are celebrating news of a £400 Christmas bonus today.
The pay out was confirmed by the company this morning and means employees at the firm’s 11 plants in Staffordshire, Derbyshire and Wrexham will share in a festive bonus pot worth more than £2 million.
JCB CEO Graeme Macdonald said: “While global construction equipment markets have remained fragile during 2016, JCB has made some good progress and has grown its share in a declining market. We expect continued market fragility next year but we enter 2017 with a degree of confidence driven by the recent introduction of innovative new products.
“I’m delighted that Lord Bamford has agreed to award a Christmas bonus in 2016 and I thank everyone for their commitment and hard work this year in such a difficult economic climate.”
The Agricultural Engineers Association (AEA) has reported that 2016 tractor registrations are down by 11 per cent, illustrating the decrease in new tractor purchases.
Farmers continue to extend their replacement policies rather than purchasing new machinery, according to the association. Consequently, the second-hand trade has continued to grow.
JCB UK shop floor employees have also voted in favour of a 2.2% pay rise linked to November’s Retail Price Index (RPI) as part a new three year deal.
