Hexaware sees challenges in next 3-4 qtrs; freezes hiring

Global IT and BPO services provider Hexaware Technologies today said it has frozen hiring in the company and the coming 3-4 quarters are going to be tough for the firm in the backdrop of an economic slowdown.

"There has been a hiring freeze in the company and next three four quarters are going to be challenging in terms of revenue," Hexaware Technologies founder and Executive Chairman Atul Nishar told reporters on the sidelines of a Nasscom summit here.

Nishar said that revenues would be impacted because clients have been downsizing there budgets and the company would have to bear this because of global economic slowdown.

"Hiring is going to be very need-based and we are adopting strict performance review," Nishar added.

With 175 active clients, 60 of which are Fortune 500, Hexaware has achieved leadership in technology solutions for industries such as banking, financial, insurance, leasing, transportation and HR.

According to its website, Hexaware employs 7,000 workers globally. The company has six development centres, four in India and one each in Germany and Mexico. It also has offices in North America, Europe and Asia Pacific.