Hexaware Technologies Limited has informed the Exchange regarding 'Clarification on article in Money control'.
HEXT · price
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Awaiting price reaction for this filing.
Hexaware clarified a Moneycontrol article dated May 8, 2025 that linked a reduction of 500 BPO employees to an AI-driven hiring shift. The company confirmed the workforce numbers — about 100 people added in IT and 500 reduced in BPO during Q1CY'25 — but stated that the BPO reduction was due to the seasonal nature of the business, not because of AI. The CEO's comments on potential long-term AI impact on the BPO business were based on management's belief and the company's ongoing AI investments, not on any current AI-led layoff.
This clarification partially rebuts the negative narrative from the news article, potentially easing investor concerns that AI was already causing job cuts. However, the company still acknowledges AI could affect BPO over the long term, which may keep the structural-pressure narrative on the stock alive.