Comments
Noida-based HCL Technologies may lay off some employees in Finland. These employees are among those who were servicing phone maker Nokia from its on-shore centres.
The company had entered into a long-term agreement with the Finnish mobile phone manufacturer for a global IT infrastructure management outsourcing services in January.
“There could be some lay offs. We will take around six weeks to decide and comply with all the formalities under the European law,” a HCL Technology official told Business Line on request of anonymity.
An official statement from the company said “Any change to requirements in client projects is essentially a matter of discussion between HCL, its client(s) and unions where needed. We do not respond to speculation on such matters.”
According to sources, the lay off numbers may be little more than 100. The company did not give the total number of employees working across Finland.
Tata Consultancy Services (TCS) was also part of the service agreement with Nokia. This was part of the phone maker’s plans to cut over 1,000 IT jobs, including 820 employees who were transferred to HCL and TCS. Earlier this month, TCS had said it may lay off around 290 employees working for Nokia.
HCL Tech’s shares closed at Rs 776.10 on the BSE on Friday, down 2.34 per cent, from the previous close.
ronendrasingh.s@thehindu.co.in
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.