Leading IT Company stops giving Appraisal to Employees in 2020! Fresh Recruits, Jobcuts and other Details Listed

Leading IT major HCL technologies is suspending salary appraisals for FY21 in view of the Corona virus pandemic.  HCL Tech is not the only IT company that has suspended wage hikes. Infosys and Wipro too took the same measure due to the pandemic. 

However, while talking about hiring a staff from the company’s management told Moneycontrol, “We hired 2,000 laterals and on-boarded 1,000 freshers in Q1. We will continue to hire in coming quarters based on need and also attrition,” he added.

According to media reports, Infosys hired close to 5,000 laterals for Q1 and will on-board 20,000 freshers in F21. Wipro hired 7,000 laterals and will on-board freshers from Q2. The company has reportedly offered 15,000 jobs to freshers.

VV Apparao, Chief Human Resources Officer told that the company typically hires 3,500-4,000 laterals per quarter. “This number depends on growth and attrition since lateral hires replace those who leave,” he explained. He added that due to falling attrition, the number of fresh recruits is also likely to reduce.

While talking about the H-1B issue, the source told that they do not see the ban impacting them in short-term. “I don’t think there will be a long-term impact as a lot of it is coming from elections in November. These are knee-jerk reactions,” he added.

The IT services company reported a 7.3 percent quarter-on-quarter fall in its June quarter.