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BENGALURU: HCLTech is skipping salary hikes for mid to senior employees this fiscal and has deferred salary increases to junior employees by a quarter. HCL CEO&MD C Vijayakumar said, “We have had a good wage increase cycle over the last couple of years and given the macro uncertainty and cost inflation, we made this decision this year. ”
HCL’s head count dropped by 2,506 in the June quarter to 2. 2 lakh employees. It added 1,597 freshers. “We have had strong hiring in the last three quarters with robust net additions. In the June quarter, we saw a decline (in headcount) as we had some built up capacity, and the future hiring will largely depend on the type and location of demand. And in some cases, we would be hiring from clients who are part of large engagement or building new teams ground up,” he said.
HCL’s attrition declined to 16. 3% in the June quarter from 19 . 5% in the March quarter. Wipro CFO Jatin Dalal said the company is deferring salary hikes to the December quarter as they rolled out hikes in September last year. HCL missed street estimates led by weakness in engineering R&D and the IT and business services segment. Reduction in discretionary spending in digital programmes and continued challenges in the technology and telecom sectors impacted its performance in the June quarter.
HCL’s head count dropped by 2,506 in the June quarter to 2. 2 lakh employees. It added 1,597 freshers. “We have had strong hiring in the last three quarters with robust net additions. In the June quarter, we saw a decline (in headcount) as we had some built up capacity, and the future hiring will largely depend on the type and location of demand. And in some cases, we would be hiring from clients who are part of large engagement or building new teams ground up,” he said.
HCL’s attrition declined to 16. 3% in the June quarter from 19 . 5% in the March quarter. Wipro CFO Jatin Dalal said the company is deferring salary hikes to the December quarter as they rolled out hikes in September last year. HCL missed street estimates led by weakness in engineering R&D and the IT and business services segment. Reduction in discretionary spending in digital programmes and continued challenges in the technology and telecom sectors impacted its performance in the June quarter.
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