News: HCL announces one-time bonus for employees worth Rs 700 crore

Compensation & Benefits

HCL announces one-time bonus for employees worth Rs 700 crore

The special bonus will be paid to employees in February, amounting to approximately $90 million plus payroll taxes in some countries.
HCL announces one-time bonus for employees worth Rs 700 crore

HCL Technologies (HCL) on Monday announced special one-time bonus worth over 700 crore to its employees. The global tech company said that the bonus announcement is "in recognition of its recent milestone."

The company crossed the $10 billion-mark in terms of revenue for 2020.

"In celebration and gratitude all employees with one year of service or greater will receive a bonus, the equivalent of 10 days’ salary," HCL stated in a notification to exchanges.

“The $10 billion revenue milestone is a testament of our remarkable resilience as an organization and the entrepreneurial spirit of our more than 159,000 employees. With this gesture, we want to sincerely express our gratitude to our employees and their families for all their support,” said Apparao VV, chief human resources officer, HCL Technologies.

The special bonus will be paid to employees in February, amounting to approximately $90 million plus payroll taxes in some countries.

The figure is excluded from the FY21 (2020-21) EBIT (earnings before interest and taxes) guidance provided by the company last month.

Read full story

Topics: Compensation & Benefits

Did you find this story helpful?

Author

QUICK POLL

What is your top focus area for reinventing work in the hybrid world of work?

2 months free subscription
q_auto,f_auto/v1617612749/mag-april-2021.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

What are your key focus areas as you continue to reinvent your business amid the ongoing uncertainty? READ the April 2021 issue of our magazine to find out the reinvention story of global leaders.

Read Now