HCL Tech to hike salaries

HCL an IT services provider has announced , it will increase the salaries of their employees by 0-10 percent from October 1 well great news for HCL employees.At the end of September 30, HCL Tech's total employee strength stood at 54,443. The company added 665 professionals in the IT services segment during the period.



"We have decided to increase the wages of the employees effective from October 1, 2009 by 0-10 per cent and this will result in our gross margin dropping by 130 basis points for the next two quarters," HCL Tech CEO Vineet Nayar said after announcing the first quarter results.
"Acquisition is a part of our growth strategy. You will see acquisitions hopefully in BPO, enterprise application space, engineering and cloud computing side," Nayar said.

And the interesting part is HCL is looking for acquisitions to 'fill in the gap' in its service areas.

"We have successfully managed five acquisitions in the last 3-4 quarters. Our margins are back to its original level of 19 per cent," he said, adding there is no fixed price tag for the acquisition.