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HCLTech trims headcount, slashes fresher hiring 45% in Q3
HCLTech Q3 FY26: Attrition over the past 12 months remained relatively stable at 12.4%
HCL Technologies' total employee headcount fell by 261 on a quarter-on-quarter basis to 226,379 in Q3FY26.
HCL Technologies on Monday announced its third-quarter results for the fiscal year 2026, showing a marginal decline in employee headcount and a sharp slowdown in fresher hiring despite strong revenue growth and artificial intelligence technology.
The country's third-largest software services company said its total employee headcount fell by 261 on a quarter-on-quarter basis to 226,379 during the October-December quarter. The decline was driven largely by a reduction in the technical workforce, while headcount in sales and support roles increased.
According to the company's Q3 earnings statement, technical staff strength fell to 212,075 in Q3 FY26 from 212,412 in the previous quarter. Sales and support headcount increased to 14,304 from 14,228 over the same period.
Freshers hiring declined sharply, dropping 45% on a sequential basis to 2,852 compared with 5,196 hires in Q2 FY26. Attrition over the past 12 months remained relatively stable at 12.4%. The share of women employees saw a rise to 29.5%, up from 28.8% in the corresponding quarter last fiscal.
Employee benefit expenses rose 12% year-on-year to 18,867 crore in Q3 FY26, accounting for 55.7% of the total revenue. Recruitment, training, and development accounted for 0.4% of the revenue.
Separately, HCLTech clocked a revenue of Rs 33,872 crore for the quarter, marking a 6% sequential increase and 13.3% year-on-year growth. Revenue from Advanced AI services jumped nearly 20% quarter-on-quarter in constant currency terms to $146 million.
"AI continues to be a key growth driver across our portfolio. The company is sharpening its capabilities to capture emerging opportunities," said Roshni Nadar Malhotra, Chairperson of HCL Tech.
Chief Executive Officer and MD C Vijayakumar said that new deal bookings were "exceptionally high" at $3 billion during the quarter.
However, net profit declined by 11.2% year-on-year to Rs 4,076 crore, impacted by a one-time cost of Rs 956 crore related to new labour code provisions introduced during the quarter.
HCLTech's result was announced after market hours. The company's shares ended Monday's session up 0.35% at Rs 1,688.10 apiece.
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