Job jitters

New Delhi, Dec. 10: The economic slowdown will hit recruitment in India but not lead to layoffs, according to a survey.

Recruitment by domestic companies is likely to slow down to a three-year low in January-March, according to the survey by Manpower.

However, the survey indicates that there will be few, if any, layoffs, and India Inc will hire more people than firms of other countries.

“Only 19 per cent employers have positive recruitment plans in the next three months (Jan-March 2009),” the survey by the global staffing-services firm said.

Earlier, a survey by industry body Ficci had warned that textiles, metals, machinery and leather firms would shed 30 per cent jobs between October and March.

The quarterly survey by Manpower, which had 3,597 firms across seven sectors as respondents, showed that the net employment outlook for the January-March period fell 27 percentage points to a seasonally adjusted 19 per cent.

“Though hiring intentions remain positive, Indian employers are reporting a much slower hiring pace compared with the last quarter and year. Employers in all the seven sectors and four regions have reported considerable decline in anticipated hiring activity for the first quarter of the new year,” said Naresh Malhan, managing director, Manpower India.