HCLTech’s headcount falls by 8,080 in Q1, plans to hire 10,000 freshers in FY25

IT services major HCLTech’s headcount decreased by 8,080 employees in the quarter ended June. This decline includes approximately 7,398 employees lost due to the divestment of the firm, State Street, the company said.

“We need to look at the headcount taking into account the effect of divestment of State Street. Outside of that, if you see, quarter-on-quarter it’s effectively flat,” the company’s management said in the post earnings press conference.