Good news for freshers! HCLTech to hire 10,000 employees this year, says CEO C Vijayakumar

In some good news for freshers, HCL Tech CEO C Vijayakumar has mentioned that the firm will be hiring 10,000 new employees. He further added that the company's headcount should not come as a surprise because of the company's growth of 5.4% in the current environment.

“The headcount addition should not come as a surprise, because we had a good growth of 5.4 per cent in the current environment, so that obviously needs good talent to execute, and that's why our headcount is growing. And coming to FY25, of course, a lot will depend on how the year shapes up. At this point, we've planned at least 10,000 freshers to be hired during this year”, Vijayakumar told PTI in an interview

HCLTech hiring

Meanwhile, the lateral hiring will depend on the company's performance this year, said Vijayakumar. In the March quarter the company added over 2,700 employees. The CEO also announced plans to fully train 50,000 of its employees in generative AI by the end of this year.

Despite a global slowdown marred by weak client spends, geopolitical shocks, high inflation, and macroeconomic uncertainties, HCLTech reported net profit of Rs 3,986 crore year-on-year for March quarter. Meanwhile, the net profit was down 8.4% on a sequential basis.

In the fourth quarter of FY24, the revenue from operations stood at Rs 28,499 crore, up 7.11% from a year ago. For the full fiscal year (FY24), the company reported a 5.7% rise in net profit to Rs 15,702 crore. The company posted Rs 1,09,913 crore in revenue in FY24, up 8.3% from the previous fiscal.

"Across the industry there is good mix of revenue, which is coming from discretionary spending patterns of clients in this environment that is subdued, which will be visible in FY25. If things change sometime you will have a much better outcome, if things remain similar to what it was in FY24 then you will have subdued growth in FY25," Vijayakumar said.

HCLTech's projected revenue growth of 3%-5% for FY25 is a "good growth" in current environment and probably highest guidance among the tier-one providers, according to Vijayakumar.

[With PTI inputs]

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