HCL announces one-time bonus worth over Rs 700 Cr for employees

HCL Technologies announced a special bonus for its employees as company clocks $10 billion in revenues.
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Like Infosys and TCS, tech giant HCL has also just crossed $10 billion in revenues. To celebrate that milestone, it is giving away Rs 700-plus crore in bonuses to its employees.

It took the company twenty years after its IPO to achieve this milestone.

HCL works with some of the leading companies across all industries, and has a leading network of partners and stakeholders. The statement said that all employees with one year or more of service will receive a bonus equivalent to ten days’ salary, as a mark of gratitude. 

“Our employees are our most valuable asset. Despite an unrelenting pandemic, each and every member of our HCL family has demonstrated immense commitment and passion, contributing to the growth of the organisation. The $10 billion revenue milestone is a testament of our remarkable resilience as an organisation and the entrepreneurial spirit of our 159,000+ employees. With this gesture, we want to sincerely express our gratitude to our employees and their families for all their support,” said Apparao VV, Chief Human Resources Officer, HCL Technologies. 

HCL

The special bonus, amounting to approximately over $90 million payroll taxes in some countries, will be paid to employees in February 2021, the impact of which is excluded from the FY21 EBIT guidance provided by the company last month.

HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS), and Products & Platforms (P&P).

ITBS enables global enterprises to transform their businesses through offerings in the areas of applications, infrastructure, digital process operations, and next-generation digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering.

Earlier, Infosys too reported a double-digit revenue growth on the back of deals worth $7.13 billion, recording a 16.6 percent year-on-year profit.

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