CEO of HCL Tech Vijayakumar May Recruit 10,000 Freshers, GenAI potential

By Consultants Review Team Tuesday, 30 April 2024

HCL Technologies, the third-biggest IT firm in India after TCS and Infosys, recently revealed its Q4 results at ₹3,986 crore and revealed a flat net profit rise year over year. In the days that followed, CEO C Vijayakumar disclosed the company's focus and areas of importance for action. One of the most intriguing things he said today, at least for job seekers, was that HCLTech was probably going to hire 10,000 freshmen this time around.

HCL Tech recruited more than 2,700 workers in Q4, according to Vijayakumar, who also said, "The headcount addition should not come as a surprise, because we had a good growth of 5.4 percent (for FY24) in the current environment."

He also included a caveat about FY25, stating that a lot would depend on how the year plays out. Having said that, he continued, the corporation has intended to employ "at least 10,000 freshers during this year."

Regarding the company's future course, Vijayakumar told PTI in an interview that HCL Tech is interested in purchasing businesses in the semiconductor, automotive, and platform industries as well as those that have high annuity revenues or are located in countries like Japan.

Regarding artificial intelligence, Vijayakumar stated that the field is focusing on generative AI potential, and he anticipates that this year alone, up to 50,000 individuals will receive their entire training. According to Vijayakumar, the positive sentiment is further enhanced by the fact that GenAI-driven industries such as data, cyber security, cloud migration, and private AI stack construction are all gaining momentum.

What are the areas that require careful attention? "We've had stellar growth in financial services for the last two years, significantly ahead of industry," he added. "Financial services will have some headwinds now." Financial services will thus exhibit these characteristics, whereas all other verticals will expand.

According to Vijayakumar, the US market is highly significant to the firm, accounting for 64% of its sales, and the company has a very optimistic outlook. We've performed admirably. The US market has grown by 6.8%, and it is still a very strong region, the speaker continued.

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