Let's just say, 2009 will not be the year to take your job for granted.
With global recession spilling over to the emerging economies like India, companies are tightening their belts. Large corporates are making noises about 'right' sizing, rationalisation and all of that translates into job cuts at the end of the day. Already, companies are not filling in vacancies and some have even announced plans to lay off a few hundred people.
The impact may vary but it will be across the board. Some sectors may be affected more than others, for instance, export oriented and the service sector industries. But anticipate some amount of pain in manufacturing also since a slow down in domestic demand results in inventory pile-ups, production cuts and manpower cuts.
As per some employment surveys, the next three quarters are expected to see a sluggish hiring trend. Head hunters are also predicting that companies will only hire if absolutely necessary. What head hunters and corporates are happy about is the fact that salary expectations are now more realistic and a larger talent pool is available for the openings that do come up.
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