HCL Tech announces Rs 700 cr one-time bonus for employees

HCL Technologies (HCL) on Monday announced to issue a one-time special bonus worth over Rs 700 crore to employees around the world in recognition of its recent milestone of crossing the $10 billion mark in revenue for 2020.

“Achieving this historic milestone in technology, business and engineering services and software, just 20 years since HCL Technologies’ IPO, is a testament to the passionate efforts and consistent achievements of its employees, many long term, deep relationships with leading companies across all industries and a leading network of partners and stakeholders,” said a company statement.

It added that in celebration and gratitude, all employees with one year of service or greater will receive a bonus, the equivalent of ten days’ salary.

“The $10 billion revenue milestone is a testament of our remarkable resilience as an organisation and the entrepreneurial spirit of our over 1,59,000 employees. With this gesture, we want to sincerely express our gratitude to our employees and their families for all their support,” said Apparao V.V., Chief Human Resources Officer, HCL Technologies.

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