Less hiring, more firing likely for auto sector in 2013
- BJP tears into UPA govt on 4th anniversary, says it lacks leadership
- Madras High Court issues notice to BCCI, Sports Minister over IPL spot-fixing
- Jessica Lal murder: Actor Shayan Munshi, ballistic expert Manocha to face perjury trial
- India seeks access from US to 26/11 terror convicts Headley, Rana
- Govt further cuts import tariff value of gold
With automobile manufacturers in India being hit hard by dwindling sales, only 51 per cent of them are likely to hire for new jobs in 2013, according to job portal Naukri.com.
In its latest survey on the Indian automobile sector, Naukri.com said many companies are likely to even resort to firing employees to cut operational costs.
"The Indian auto market has been facing turbulent times, with car sales growth pegged to be the lowest in last 10 years. A survey with recruiters from the auto sector echoed a dismal sentiment with only 51 per cent predicting new jobs to be created in 2013," the website said in the report.
This is in contrast to an earlier finding when 65 per cent of the manufacturers surveyed in July last year talked of creating new jobs, it added.
Naukri.com, however, said there is a ray of optimism as about 60 per cent recruiters have said that they will continue with replacement hiring even if the companies do not create new positions.
Talking about dismissal of staff to reduce costs, the report said: "Employers said that layoffs will happen at the 8-15 years experience levels, while new jobs will be createdfor the 4-8 years experience category."
Further, talent crunch has also emerged as an area of concern for almost all recruiters with 78 per cent of them saying that finding the right person matching with the job requirements is the biggest challenge faced by them.
On giving out annual salary hikes, Naukri.com said: "When we asked recruiters on what increments they plan to give out to employees in 2013, then 50 per cent said that the range will be within 10 per cent to 15 per cent and about 33 per cent said that increments will be lesser than 10 per cent."
- Fixing probe now reaches Bollywood, son of Dara Singh held
- BCCI cashes Pune Warriors guarantee, 'disgusted' Sahara walks out of IPL
- Sreesanth spent Rs 1.95L on clothes, bought friend BlackBerry, paid in cash: Police
- Delhi firm with MoD as client is linked to Pak cyberattacks
- After Infosys, iGATE sacks Phaneesh Murthy for sexual misconduct
- 2 weeks after harassment, Haryana schoolgirls return, cops in tow