There has been an unpleasant development for the employees in the famous IT company HCL Technologies. It is customary for employees to increase their wages every year. But, here on the contrary, the company will reduce the wages of some employees this year. It is noteworthy that HCL Tech’s profit increased by 11 percent in the quarter ended March 2023. The company has decided to reduce the variable pay due to lack of expected profits or some other reason.
However, there were no supporters of the organization’s decision. Because many technology companies are laying off employees in the wake of global economic uncertainty. But, HCL Tech is adjusting the salary revision instead of laying off the employees. In this regard, a mail was received from the company to the employees. Engagement Performance Bonus (EPB) will not be given to employees on the bench, it said. The company has clarified that during the Corona crisis, 100 percent EPB has been paid to the eligible employees, and the changes have been made in this policy after the Corona virus is over. Due to this, the wages of some employees will decrease.
It has also been said in the new policy that if the employees leave the job in the middle of the quarter then they will not be eligible to get EPB.