Unless you give up certain legal rights, I don't see why you would ever turn down the HCL offer. Certainly it's not something most of us would want, as the future in HCL seems questionable if there is a possibility of moving your job to a lower skilled and much lower paid person in India.
Take the offer, and start seriously looking. You may feel after a few months HCL is not so bad and safe, or you may not. But better to search now and leave on your own terms as it appears you would no longer be giving up a severance package.
Hope everybody ends up on two feet, with as good or better a situation you are in now.