BENGALURU: Technology company HCL Technologies has reportedly laid off 350 employees globally. According to various reports, they were employed by HCL’s client Microsoft’s news outlet MSN. The last day of employment is reportedly September 30 for the laid-off employees and that they will receive severance compensation. A query sent to Microsoft didn’t elicit any response. Instead of confirming or denying lay off, HCL in a statement said, “Our Technology & Services vertical continues to see robust growth and is one of the fastest growing segments for us.”
According to an HCL employee, the company has apparently sacked many employees who were on bench for more than two months. In its recent report, Monster said IT industry (down 8%) saw a hiring dip due to ongoing start-up layoffs, great resignations, and variable pay-out trends in the sector, BPO/ITES (down 4%) saw a similar dip, which could be attributed to reduced hiring across metro cities. Xpheno, a staffing firm, in its recent report said IT services sector had its sharpest YoY drop of 23% in active job volumes in August 2022 as against August 2021. It said August 2022 figures closed 4% lower than July 2022, registering the lowest volume in over a year.