HCLTECH WAGE

Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on p...

Forbes has released its ninth edition of the "30 Under 30 Asia" list, celebrating 300 young entrepreneurs, leaders, and trailblazers under 30 driving innovation and transforming industries across the Asia-Pacific region. The list includes India's Ak...

Indian outsourcing companies face a margin squeeze in FY24 due to a triple threat: aggressive deal pricing, rising employee costs, and the pressure to boost revenue despite tight global budgets. Notably, Tata Consultancy Services (TCS), the industry...

For the full year as well, Noida-headquartered HCLTech added 1,537 employees from overall headcount of 225,944 in March end 2023. Similarly in FY23, HCLTech’s headcount had shown an increase by 3,674 employees.

Over the year, the headcount at India’s largest software services firm, TCS, dropped by 10,669. Infosys reported a 24,182 reduction, while Wipro posted a 18,510 fall. At HCLTech, the number increased by 2,486

The company is seen reporting a nearly 5% sequential rise in consolidated revenue to Rs 27,959.40 cr, and net profit is expected to increase by nearly 7% to Rs 4,085 cr, according to the average of estimates given by 11 brokerage firms.

The third-quarter results season will begin with TCS and Infosys announcing their results on January 11, followed by HCLTech and Wipro on January 12. The focus this quarter will be the commentary on the demand environment and 2024 budgets.

The classification of E0 – E2 employees range from freshers to technical leaders and E3 – E6 employee band are those with mid-level positions ranging starting from project managers up to vice presidents. E7 and above are the senior-level employees.

A spate of geopolitical conflicts and macro-economic concerns have combined to dent the demand for tech services, putting Indian IT majors on the edge for FY24.

Reluctance by clients to go for large spends on digital transformation over the past few quarters has taken a toll on big IT firms. Subdued macroeconomic trends have meant cutting down on discretionary spending and projects that do not immediately r...

In line with larger peers, Infosys and HCLTech, the company has also slashed its revenue growth guidance for the fiscal from 20% to 17.5-18.5%, due to “delayed decision making”.

Indian IT majors Infosys and HCLTech reported profits for the second quarter of FY24, despite numerous headwinds plaguing the sector. This and more in today’s ETtech Top 5.

The company also said it has a significant fresher bench and does not see a need to visit campuses this year as of now. Infosys reported a decline of 6,940 last quarter as the company slowed down hiring.

​​​The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next...

Infosys and HCLTech have chosen not to implement raises, while Wipro has postponed its announcement to the third quarter. Tech Mahindra has granted increments to junior and mid-level employees but deferred them for senior roles. TCS, on the other ha...

ET could not independently verify the share of the employee base that received such hikes but sources confirmed that a majority of junior to mid-level employees have received similar hikes.

Fixed-price projects allow better cost control and a greater ability to introduce automation in projects and expand margins. By contrast, ‘time and material’ control are directly linked to the number of people hard-locked to billable projects.

“I do not think we will grow without adding any headcount. There will be some addition of headcount to support the growth because the ask rate for the next three quarters are quite high. So, there will be headcount addition,” says HCLTech CEO &B MD ...

Analysts will be watching for commentary on demand in key markets like the UK and US apart from further signs of deal rampdowns or cancellations.