HCL Technologies to Hire 3,000 Employees

Software service provider HCL Technologies is going to hire about 3,000 employees in the July-September quarter.

 

CEO of HCLT, Vineet Nayar told media, "We have already hired 3,000 people in the June quarter. In this quarter, we will hire an additional 3,000 freshers,” "We expect the September quarter margins to drop 300 basis points. Of this, about 250 bps would be on account of wage hikes and the remaining 50 bps on new hires, however we are expecting a 300 bps drop in margins in Q1, we will recover in the next three quarters" he adds. The company has given a 12-14% wage hike for its Indian staff in July-June fiscal and increased onsite salaries by 2-3%.

The company also plan to increase its capital expenditure to USD 230 million for FY'12. "Last year, our capex was at USD 170 million. This year, we are stepping up our capex to USD 230 million. Most of this will go toward expansion of campuses," HCLT CFO Anil Chanana said.

This is very good news for the Indian IT industry as already TCS has announced their plan to hire 60,000 staffs this fiscal year while Wipro and Infosys are also hiring aggressively. The hiring process is coming this big as all the major IT companies are building up their bench strengths to handle the bigger size and variety of projects they expect to grab in the coming months.