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| HCL defers joining date of recruits, again | |
| Newswire18 / New Delhi January 07, 2009, 0:28 IST | |
HCL Technologies has deferred the joining month for some of its recruits from January to April, according to a person familiar with the development.
It could not be ascertained as to how many potential employees have been affected as a result of the company's decision. "These recruits were earlier told to join in January. This has been extended by three months," the official said.
The company had in October deferred the joining date for some of its recruits to January. "Our recruitment drive for 2009 is very much in progress, and it hasn't varied much from the previous years. It has been business as usual for us," said Ravishankar B, senior vice-president and head of the Talent Management Group of the company, said via e-mail.
The company had net added 7,072 employees in the four quarters ended September. The company's financial year runs from July to June. Given that HCL Technologies operates in software services and business process outsourcing sectors, a large number of employees that the company adds every quarter comprise engineers.
Most engineering colleges in India complete their academic year in July. Typically every year, campus joining at software services company is spread out over the four quarters. This is done for logistical reasons such as training needs and the consequent demand for seating.
Offers for students pursuing engineering courses, which are of a four-year duration, usually start trickling in from the start of their third year. HCL's decision to defer the date of joining for its recruits is not surprising, as it comes on the heels of its peers already having done more or less the same. The sector has been under severe pressure due to liquidity crunch in the global financial markets, currency fluctuations, cancellation of orders, rise in clients' expectations and the expected downward revision in their budgets.
Shares of HCL Technologies closed the day's trading at Rs 130.55 on the National Stock Exchange, up 3.49 per cent from Monday.
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