In the wake of coronavirus, many customers have reduced operations and some projects are getting postponed, says C. Vijayakumar.
HCL Technologies’ CEO on Thursday said the IT company is expected to get 15,000 freshers onboard in 2020 but it will be placing lateral hiring on hold.
In the wake of coronavirus, many customers have reduced operations and some projects are getting postponed, said C. Vijayakumar who is also the President of the IT services firm.
Lateral recruitment is the process of hiring an ‘expert’ for a job role that needs to be filled.
You might also be interested to read: Protect Poor By Creating Jobs In Formal Sector
Vijayakumar said the company’s customers are seeking cost reduction in projects for next one or two quarters and that the company is “very flexibe in providing short-term relief”.
The IT services major on Thursday posted 24.3 per cent jump in March quarter consolidated net profit at ₹3,154 crore, and said there could be certain short-term challenges like clients deferring new projects and volume-based billing impact on account of Covid-19 pandemic.