Indian IT major HCL Technologies today said the cost cutting phase necessitated by the global economic downturn is over and it will work with its global customers to help redesign their business.

During the recession, HCL helped its customers in the US and Europe reduce their "run-the-business" cost, company Chief Executive Officer Vineet Nayar told PTI.

Nayar, who is a regular at the World Economic Forum meeting, said the phase of cost reduction is over and the name of the game is to change and transform the business.

"Now we are going to have customers wanting to change businesses and transform them," he said.

The USD 5-billion technology company, which is among India's original IT garage start-ups, has grown into a 55,000 employee company and is geared to change business focus, Nayar said.

He said among the five sets of its expertise, it would now focus on the areas like enterprise application and engineering services. Simply put, HCL would help the enterprises help redesign their business, say taking them to the use of digital technology, with the help of engineering tools.