HCLTech's workforce declines by 3,292 in the April-June quarter
New Delhi, July 13
HCLTech's workforce shrank by a net 3,292 employees during the April-June quarter of FY2026-27, marking its sharpest quarterly decline in at least the past five quarters, even as the IT services company reported higher profit and maintained its full-year growth guidance, according to its Q1 FY27 investor release and financial results.
The company's total headcount stood at 223,889 as of June 30, 2026, down from 227,181 at the end of March 2026. The investor release also showed the company added 1,056 freshers during the quarter, while the last twelve-month attrition stood at 12.7 per cent.
HCLTech reported consolidated net income of Rs 4,624 crore for the quarter ended June 30, up 20.3 per cent year-on-year and 3 per cent sequentially.
Revenue from operations rose 13.9 per cent year-on-year to Rs 34,579 crore, while in constant currency, revenue declined 0.5 per cent sequentially and grew 2.6 per cent year-on-year, according to the investor release.
The company said it recorded new deal wins worth USD 2.41 billion during the quarter.
The company retained its FY27 revenue growth guidance of 1-4 per cent in constant currency and projected services revenue growth of 1.5-4.5 per cent. It also maintained its EBIT margin guidance at 17.5-18.5 per cent.
Separately, HCLTech's board approved an investment of up to Rs 3,500 crore to set up AI data centres in India as part of its expansion into the full-stack AI market, according to a separate stock exchange filing.
The board also declared an interim dividend of Rs 12 per equity share for FY2026-27.
— ANI
Reader Comments
Finally some good news! Rs 12 per share dividend and Rs 3,500 crore AI data centre investment shows HCLTech is thinking long-term. The 12.7% attrition is actually quite healthy compared to the crazy 20%+ we saw during the pandemic hiring frenzy. Let's see how the constant currency growth plays out next quarter.
Interesting how HCLTech's revenue grew in USD terms but declined 0.5% in constant currency. The strong rupee might be masking some real underlying weakness. The AI data centre push is smart though - India needs to capture more of the global AI infrastructure spend rather than just providing services.
My cousin was laid off from HCL last month. They said it was "performance-based," but he had good ratings. This 3,292 decline feels like a polite way of saying layoffs are happening. The management should be transparent - we all know the AI and automation wave is reducing manual IT jobs. Reskilling is the need of the hour. 🙏
Maintaining 17.5-18.5% EBIT margin while cutting headcount is a delicate balance. The US$2.41 billion deal wins are impressive though - shows the demand for Indian IT services isn't going away. I'm cautiously optimistic about the AI data centre bet, but Rs 3,500 crore is a huge investment for a services company.
As someone preparing for campus placements, this news is disappointing. Only 1,056 freshers hired in a quarter for a company with over 2 lakh employees? Meanwhile
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