Thanks to the slowing economy, India Inc is wary of recruiting additional numbers. Though companies say pink slips are still way off, there is a near consensus on a slowdown in the recruitment process. Unlike 2008, companies are looking at multitasking by existing employees, instead of pink slips. According to headhunters, telecom, real estate, banking and financial services, information technology and aviation are sectors where managements have already applied the brakes on hiring.
According to data from Ma Foi Randstad, while the July-September quarter of 2010 saw 20,200 job opportunities in the banking and financial industry, the estimated requirement for the same period in 2011 was 14,800. In the real estate sector, while there were 48,200 jobs on offer in July-September 2010, the number has come down by 30,700 for July-September 2011. FMGC and manufacturing companies however, are the ones where jobs are available.
Source: Business Standard