HCL Tech skips salary hikes citing cost inflation

BENGALURU: HCLTech is skipping salary hikes for mid to senior employees this fiscal and has deferred salary increases to junior employees by a quarter. HCL CEO&MD C Vijayakumar said, “We have had a good wage increase cycle over the last couple of years and given the macro uncertainty and cost inflation, we made this decision this year. ”

HCL’s head count dropped by 2,506 in the June quarter to 2. 2 lakh employees. It added 1,597 freshers. “We have had strong hiring in the last three quarters with robust net additions. In the June quarter, we saw a decline (in headcount) as we had some built up capacity, and the future hiring will largely depend on the type and location of demand.