State-run oil firms are on a hiring binge, undeterred by the financial uncertainty plaguing the sector, and potentially making up for any drop in recruitment by the private sector that is battling rough times in the slowing economy. State-run firms such Indian Oil Corporation (IOC) and the Hindustan Petroleum Corporation (HPCL) are planning to hire close to 1,000 new executives this year, from institutions such as XLRI Jamshedpur, Symbiosis, Pune, and FMS in Delhi and engineers from IITs. In a statement HPCL has said that it plans to hire 300 officers in 2012-13. LPG, retail, operations and distribution and project and pipelines will see maximum induction in HPCL.
Firms such as Coal India and BHEL have also hired from IIMs in recent years. IOC had hired from IIMs during the slump in 2009, but it could not retain them as the young executives fled as soon as they found lucrative offers from the private sector. This year, it hopes to hire from other institutions such as IMI, IMT, and SIBM.
Source: The Economic Times