Dec 26, 2008

Business - No lay-offs, no matter how bad it gets, assures HCL Tech

HCL Technologies, one of India's leading Information Technology firm, will not fire its employees even if the economic situation gets worse over the coming months, the company's chief executive officer told Hindustan Times. The company, like other corporates is cutting costs through other 0measures like reducing transport and electricity bills amongst others.

"We have not and will not lay off no matter how bad it gets, even if recessionary trends get worse," said Vineet Nayar, CEO, HCL Technologies. HCL Technologies employs around 55,000 employs across 19 countries.

Nayar said that the company's hiring plans were on track but declined to put a number to the target. On expected salary hikes for financial year 2010, Nayar said that the company will take a decision around June next year.

"We will take a decision around June and expect that most of the bad news will be behind us by then," said Nayar. "We will cut costs from all corners, through better utilisation of electricity, reducing cycle time from desire to implement of a project, controlling transportation and vendor bills," he said.

He declined to comment on how much the company is likely to save through these initiatives

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