Wed Oct 16 19:10:00 UTC 2024: ## HCLTech Announces 7% Salary Hike, Buoyed by Strong Financial Performance

**MUMBAI, INDIA** – HCLTech, a leading global technology company, has announced a 7% salary hike for its employees, effective October 2024. The move, which comes as other Indian IT firms have delayed raises amid a challenging market, reflects HCLTech’s strong financial performance and commitment to employee development.

Top performers will receive increments of up to 15%, further demonstrating the company’s focus on recognizing and rewarding exceptional contributions. Despite the salary increase, HCLTech anticipates minimal impact on operating margins for the December quarter, attributing this to its robust efficiency measures.

“This salary hike acknowledges the valuable contributions of our employees,” said Ramachandran Sundararajan, Chief People Officer at HCLTech. “We are committed to attracting and retaining top talent, while ensuring the long-term financial stability of our organization.”

HCLTech’s compensation strategy is aligned with its annual review cycle and is designed to strike a balance between employee retention and profitability. The company continues to adjust its workforce, with a net reduction of 780 employees in the second quarter of fiscal year 2025. Despite this, HCLTech added 2,932 freshers during the quarter, highlighting its commitment to investing in future talent.

As of September, HCLTech’s total employee count stands at 2,18,621, with an attrition rate of 12.8%. This demonstrates the company’s ability to maintain a stable workforce while navigating the evolving market dynamics.

HCLTech’s strong financial performance, coupled with its commitment to employee development and strategic workforce management, positions the company for continued success in the competitive IT services sector.

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