Business and employment outlook lowest in history

By siliconindia   |   Friday, 30 January 2009, 03:22 Hrs   |    2 Comments
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Bangalore: The shackling economy has brought the business and employment outlook to an all time low. The net business outlook saw a dip by around 50 index points, while the employment index was 30 points down.

"The business outlook for the first quarter for 2009 has been completely undermined with the series of disastrous socio-economic events in the last quarter. The impact has been broad-based across sectors and companies, which has left no scope for positive projection in the near future. We see that the outsourcing sector has bottomed out, and do not see any further fall. With the recession in the U.S., we see quiet a few outsourcing deals favouring business for the Indian IT /ITES industry," said Surabhi Mathur-Gandhi, General Manager, TeamLease Services. The findings are based on a report of the staffing company TeamLease Services. The report also reveals that while all the sectors are under the uncertain outlook, the telecom sector is in a better outlook with 60 index points.

The level of attrition is the highest in IT/ITeS though insecurity looms high in this sphere, with Bangalore and Chennai witnessing most of it. The study that covers India's organized verticals including manufacturing and engineering, financial services, IT-ITeS, infrastructure, retail, media, FMCG and telecom - focused on employment growth potential and hiring forecasts for the next three months and provided an overview of hiring pattern with relation to location and company profile.

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