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HCL to honour employees' bonus, no salary cuts for now: Report

In addition, HCL will also hire freshers and bring 5,000 of them onboard.

May 21, 2020 / 01:18 PM IST
 
 
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In times where companies are forced to cut salaries and announce layoffs, Hindustan Computers (HCL) will reportedly not cut salaries of its 15,000 employees for the time being.

The software services firm will also go ahead with promised bonuses to its 150,000 employees to honour their previous year’s performance at the firm. In addition, HCL will also hire freshers and bring 5,000 of them onboard, The Economic Times reported.

"We haven’t seen any cancellations (of projects,) but onboarding of new projects has been delayed by a little. However, we are seeing a lot of green shoots; today, we have 5,000 open requirements in some areas, which are good, neutral, and positive (areas)," Apparao VV, chief of Human Resources at HCL told the paper.

The company does acknowledge some hurdles and problems. For example, transportation and manufacturing verticals are facing stress as clients struggle at their end.

About the annual appraisal, the company said it will take a call in July when it is due. The company is also not considering salary cuts or cancel bonuses this year, said Apparao.

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"Our belief is that the bonuses that we are paying are a function of what people have delivered in the last 12 months, and we should honour our commitment to our people," he added.

The Noida-based firm did not cut employees salaries during the 2008 recession or other past crises, Apparao said.

Another tech firm, Capgemini India, reportedly announced that it has given a single-digit salary hike to 84,000 employees, effective April 1, 2020. The number accounts for 70 percent of the company’s workforce in India. The rest of the employees of Capgemini India will get their increments in July.

On the contrary, other IT firms like Infosys, Wipro, TCS have delayed salary hikes and put promotions on hold, citing uncertainty in business growth.
Moneycontrol News
first published: May 21, 2020 09:33 am

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