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Tech ObserverNewsEnterprise ITHCL Tech eyes bigger EU market pie, to pump its headcounts in nearshore locations

HCL Tech eyes bigger EU market pie, to pump its headcounts in nearshore locations

At present, HCL Tech employs about 10,000 people in all its nearshore locations, globally. It looks to hire 35,000-40,000 freshers this year.

At present, HCL Tech employs about 10,000 people in all its nearshore locations, globally. It looks to hire 35,000-40,000 freshers this year.

Indian IT major, Tech has announced to double its headcount in nearshore locations over the next 3-5 years. According to the company CEO C Vijayakumar, the Russia-Ukraine war has not impacted demand from Europe at all. HCL Tech employs about 10,000 people in all its nearshore locations, globally.

At present, the company operates from 20 nearshore locations including Mexico, Toronto, Vancouver, Costa Rica, and Romania. With the demand rising, HCL Tech looks to shore up operations with the deployment of a fresh workforce at these locations. The company is looking to hire 35,000-40,000 freshers this year, apart from lateral hiring.

With the advantage of not having any operations in Russia or Ukraine, HCL has its Eastern European centres in Poland, Romania, and Bulgaria and there has been no impact on operations since the Russia-Ukraine war broke out.

The company is also witnessing robust demand from Europe. Rolling out a future expansion roadmap, the company indicated that it may expand its existing locations. HCL Technologies had recently reported an over threefold jump in its consolidated net profit for the fourth quarter ended March 2022 at Rs 3593 crore.

The tech major has also struck an optimistic note about ‘buoyant’ market environment and ‘strong momentum across verticals and service lines’ for 12-14 percent revenue growth for FY23.

HCLT’s revenue from operations for the just-ended March quarter came in at Rs 22,597 crore, 15 percent higher than a year ago. For the fiscal ended March 31, 2022, the net income stood at Rs 13,499 crore, as against Rs 11,145 crore in the previous fiscal.

The revenue from operations for the entire fiscal up to March 31, 2022, was Rs 85,651 crore, up from Rs 75,379 crore in FY21.

Telecom, , life sciences, and healthcare will be key growth drivers for the company in the incremental revenue that will come this fiscal.

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