Home / Companies / News /  HCL Tech plans to hire 45k freshers in FY23, looking to opt hybrid model of work
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IT major, HCL Technologies is looking to hire at least 45,000 freshers in the financial year FY23 for catering to its attrition and growing demand. The company on Thursday announced its financial performance for the quarter and year ended March 2022 period.

As of March 31, 2022, HCL Tech's total full-time headcount is 208,877. In Q4FY22, the net hiring was 11,000 globally, while for the full fiscal year - the net hiring stood at 39,900 employees.

The total employees represent 165 nationalities and about 28% of the global employees are women.

In FY22, entry-level freshers hired were to the tune of 23,000.

Further, HCL Tech stated that localization in the US stands at 70.9%, while in Europe stands at 80.5%, and APAC and the rest of the world (excluding India) stand at 88.9%.

For fiscal FY23, HCL Tech seeks 12-15% of the employees coming to offices. It is planning on a hybrid model of work.

The company plans to hire 45,000 campus hires in fiscal FY23 which is nearly doubled from the FY22 hiring of 23,000 freshers.

In Q4FY22, the company posted a net income of 3,593 crore on a consolidated basis, rising by 23.9% yoy and 4.4% qoq. Consolidated revenue stood at 22,597 crore higher by 15.1% yoy and 1.2% qoq.

In the fourth quarter of FY22, in terms of the dollar, the revenue was at $2,993 million up 11% yoy and 0.5% qoq. In constant currency, the revenue growth was at 13.1% yoy and 1.1% qoq.

C Vijayakumar, Chief Executive Officer & Managing Director, HCL Technologies said, "We have delivered yet another stellar quarter in our Services business, where the revenue is up 5.0% QoQ & up 17.5% YoY in constant currency. Over the last three quarters, our Services business has been consistently growing organically at 5% and higher, delivering one of the highest CQGR in the industry."

"Our overall growth on YoY basis stands at 12.7% which is better than the guidance led by strong momentum in Digital, Cloud and Engineering services," Vijayakumar added.

Vijayakumar further said, "We continue to invest proactively to create a larger talent pool to address the demand."

For the full year FY22, net income and revenue stood at 13,499 crore and 85,651 crore increasing by 4.3% and 13.6% yoy respectively. In dollar terms, revenue is at $11,481 million up 12.8% yoy, while the growth is at 12.7% in constant currency.

HCL Tech expects revenue to grow between 12% to 14% in constant currency, while EBIT margin is expected to be between 18% to 20% for FY23.

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