With the global slowdown affecting revenues of information technology (IT) and IT-enabled services (ITeS) companies, the hiring outlook has also dampened significantly for this sector.
The net employment outlook for the sector is down to 23% in the first quarter of 2009 compared with 57% in the last quarter of 2008, says a report by Manpower Services India Pvt. Ltd.
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This is a decline of 34 percentage points. Of the 768 employers surveyed, only 27% expressed a desire to increase hiring in this quarter, while 4% anticipated a decrease in hiring. In the previous quarter, while 58% of the 1,098 employers surveyed expressed a desire to increase hiring, only 1% expected a fall in hiring.
This outlook is derived from responses collected from the human resource, or HR, heads of top software firms, IT companies and business process outsourcing firms.
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