Staff costs surge at HCLTech

HCLTech's employee costs have surged to 56.8% of revenue in FY24, compared to pre-pandemic levels. This rise is due to increased on-site employees and reduced fresher hiring. The company noted an average salary hike of 3.4% for 2023-24, which is among the lowest in leading IT services firms.

Sep 9, 2024 - 08:00

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HCLTech's employee costs have surged to 56.8% of revenue in FY24, compared to pre-pandemic levels. This rise is due to increased on-site employees and reduced fresher hiring. The company noted an average salary hike of 3.4% for 2023-24, which is among the lowest in leading IT services firms.