HCL commits to not cut salaries or jobs


Indian IT firm, HCL Technologies has announced that it will not cut salaries during the COVID-19 pandemic. The company has also decided to honour the promised bonuses for the previous year.

The IT firm has a headcount of 150,00 employees. It is the third-largest IT services firm in the country. The COVID-19 led economic slowdown has affected the IT industry including HCL. There would be a slowdown in IT spends by organisations across the world. HCL is prepared to face this impact.

Apparao VV, Chief Human Resources officer at HCL Tech said, “We haven’t seen any cancellations but, onboarding of new projects has been delayed a little. However, we are seeing a lot of green shoots. Today, we have 5,000 open requirements, so we are recruiting in some areas, which are good, neutral and positive.”

The company has decided to take a call on its annual appraisal process in July. The bonuses that the company will be paying are for the work delivered by employees in the last twelve months. HCL HR head believes that the company should honour commitments to the employees. He highlights that even during the 2008 crisis, HCL did not cut employee salaries.

The uncertainty in business growth across key markets has affected the IT companies. HCL said that clients from verticals such as transportation, and manufacturing are facing stress. Most of these clients themselves are facing difficult times.

Other companies in IT-BPM sector including Wipro, TCS, and WNS have delayed pay hikes and put promotions on hold. Wipro is trying to evaluate multiple options to ensure that jobs are retailed. As the companies find ways to reduce costs, employees may have fewer job opportunities post COVID-19 lockdown.



Source link

Leave a Comment