HCLTech: HCLTech slows headcount reduction in Q2 FY25, down by 780 employees

HCLTech, India’s third-largest IT major, continued to lower its headcount, yet at a slower pace with reduction of 780 employees for the second quarter of fiscal year FY25 from July to September.

During the quarter, HCLTech also added 2,932 freshers, higher than 1,078 added in the first quarter ending June.

The total employee count at the end of September was 218,621, down from 219,401 in the June quarter.

In Q1FY25, the Noida-headquartered firm had reversed addition of headcount with a drop in employees by 8,080 for the three-month period ending June.

In the March quarter ending FY24, the headcount had increased by 2,725.

For Q2FY25, the attrition edged up a tad 12.8% from 12.9% in Q1FY25, yet weaker from 14.2% in Q2 of last year.

Last week, its larger peer Tata Consultancy Services (TCS), India’s largest software services company, hired 5,726 employees in the September quarter, continuing its workforce expansion for the second consecutive quarter. TCS’s total employee count increased to 612,724.For Q2FY25, HCLTech reported a fall of 0.5% quarter-on-quarter in net profit at Rs 4,235 crore. Net profit was up 10.4% from a year ago. Its revenue saw a 2.9% sequential increase and 8.2% year-on-year (YoY) rise in revenue at Rs 28,862 crore.

Its FY25 revenue projection was revised slightly to be between 3.5% – 5.0% YoY in constant currency terms from 3-5% earlier.