HCL Technologies Marks $10B Revenue Milestone, Thanks Employees Worldwide with Special Bonus

Rhea-AI Summary

HCL Technologies has celebrated surpassing $10 billion in revenue for 2020 by announcing a one-time special bonus for employees. The bonus, equivalent to ten days' salary, will benefit employees with at least one year of service, totaling approximately $90 million. This move recognizes the hard work and resilience of HCL's 159,000+ employees during the pandemic. The bonus payout is scheduled for February 2021 and is excluded from FY21 EBIT guidance. Achieving this milestone reflects HCL’s commitment to its workforce and its strategic growth in the technology sector.

Positive

• Crossed $10B in revenue for 2020.
• Special bonus for employees demonstrates commitment to workforce.
• Approximately $90M bonus fosters employee morale.

Negative

• Bonus impact excluded from FY21 EBIT guidance.

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 Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL’s Mode 1-2-3 strategy, based on its deep-domain industry expertise, client-centricity and entrepreneurial culture of Ideapreneurship™, enables businesses to transform into next-gen enterprises.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210207005037/en/

FAQ

What milestone did HCL Technologies achieve in 2020?

HCL Technologies crossed the $10 billion revenue mark in 2020.

What is the special bonus announced by HCL Technologies?

HCL Technologies announced a one-time bonus equivalent to ten days' salary for eligible employees.

When will HCL Technologies pay the special bonus?

The special bonus will be paid to HCL Technologies employees in February 2021.

How much is the total amount for the employee bonus at HCL Technologies?

The special employee bonus amounts to approximately $90 million.

Is the bonus impact included in HCL Technologies' FY21 EBIT guidance?

No, the impact of the bonus is excluded from the FY21 EBIT guidance provided by the company.