In Q2FY23, HCLTech hired 8359 more employees

HCLTech hired 8359 more employees

The second quarter of 2022, which ended on September 30, saw 8359 new hires at HCLTech, formerly known as HCL Technologies, the third-largest IT services provider in India. The number of people employed by the IT services major is now 219,325.

In-depth details In Q2FY23, HCLTech hired 8359 more employees:

This is more than the net increase of over 2,089 employees from the previous quarter, but it is much less than the 11,135 employees hired in the first quarter of the previous fiscal year.

The corporation reported that the attrition rate for IT services was 23.8 percent on a last twelve months (LTM) basis and was voluntary. However, it is significantly higher than the 15.7% in the same fiscal quarter the previous year.

When the project for its client Microsoft’s news-related products wasn’t renewed, HCLTech recently let go of 350 people worldwide.

The number of new hires for the quarter was 10,339, which was a little less than the earlier objective of 10,400 for Q2.

During the results call held the previous quarter, CEO and MD C Vijayakumar stated that the company as a whole planned to hire 30,000 new employees this fiscal year.

In the past, the corporation has stated that it plans to add 45,000 new employees in FY23. Additionally, it outsources a lot of labor to developing nations like Sri Lanka, Vietnam, Romania, Mexico, Costa Rica, and Brazil.

In Q1FY23, HCLTech hired 6,023 freshmen, more than double the number from Q1FY22.

On October 12, the firm announced its Q2FY23 profits. When compared to the same quarter last year, the consolidated net profit for the quarter climbed by 7.05 percent to Rs 3,489 crore from Rs 3,259 core.

The company’s operational revenue was Rs 24,686 crore, up 19.5% from Rs 20,655 crore the previous year.

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