News: Hiring slashed in the Telecom Industry

Recruitment

Hiring slashed in the Telecom Industry

Rate of hiring in the telecom industry dropped due to the price wars after arrival of Reliance Jio Infocomm and demonetization
Hiring slashed in the Telecom Industry

Hiring in the telecom sector witnessed the drop of 40 percent in 2016 as recruitments were cut by carriers to conserve cash. Also, the price wars that begin with the arrival Reliance Jio Infocomm in the industry also added to the hiring woes. 

As per the operators and the recruiters, the sector will continue to be wary of adding new staff for next six months in order to handle the financial stiffness.  

Vivek Mehta, executive director , ABC Consultants , recruitment firm says, “There has been a 30-40 percent drop in hiring in 2016 compared to last year and a similar trend is expected in next few quarters . Also, this is a volatile sector that has been under immense pressure after the entry of Jio and the stress won’t ease out for next six months.”

As a result operators and device makers of the telecom sector prefer to use internal job postings. The decline is also complemented by a sharp drop in attrition as telcos are now optimally utilizing their current staff instead of hiring more. 

With smartphone sales crashed by 50 per cent, the bigger impact has been made by demonetization that has added challenges for the sector. It has created a direct impact on the demand for data services. 

 

Source: Economic Times

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Topics: Recruitment

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