HCL Technologies marks $10B Revenue milestone, thanks Employees Worldwide with Special Bonus
Announcement posted by HCL TECHNOLOGIES LTD 08 Feb 2021
New York, USA and Noida, India – February 8, 2021 – HCL Technologies (HCL), a leading global technology company, today announced that in recognition of its recent milestone, crossing the $10B mark in Revenue for 2020, it is issuing a one-time special bonus to employees around the world. Achieving this historic milestone in technology, business and engineering services and software – just twenty 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. In celebration and gratitude all employees with one year of service or greater will receive a bonus, the equivalent of ten days’ salary.
“Our employees are our most valuable asset. Despite an unrelenting pandemic, each and every member of our HCL family has demonstrated immense commitment and passion, contributing to the growth of the organization. The $10B revenue milestone is a testament of our remarkable resilience as an organization and the entrepreneurial spirit of our 159,000+ employees. With this gesture, we want to sincerely express our gratitude to our employees and their families for all their support,” said Apparao VV, Chief Human Resources Officer, HCL Technologies.
The special bonus will be paid to employees in February 2021, amounting to approximately $90M plus payroll taxes in some countries, the impact of which is excluded from the FY21 EBIT guidance provided by the company last month.
About HCL Technologies
HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS enables global enterprises to transform their businesses through offerings in the areas of applications, infrastructure, digital process operations and next generation digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. P&P provides modernized software products to global clients for their technology and industry specific requirements. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals, categorized as Financial Services, Manufacturing, Technology and Services, Telecom and Media, Retail and CPG, Life Sciences and Healthcare, and Public Services.
As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability, and education initiatives. For the 12 months ended December 31, 2020 HCL had consolidated revenue of US$ 10.02 billion. Its 159,682 Ideapreneurs operate out of 50 countries.
For more information, visit www.hcltech.com
Forward–looking Statements
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, business process outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the Management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For further details, please contact:
HCL Technologies
Anne Coyle, US
Elka Ghudial, Europe
Devneeta Pahuja, India and APAC