India – Over 75,000 layoffs reported in telecom sector in the last year with more expected (Economic Times)

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By memberservices@staffingindustry.com (Danny Romero)

India’s telecom sector saw more than 75,000 employees laid off in the last year with more job cuts on the way, reports the Economic Times. The job losses within the workforce comes as companies are looking to consolidate to survive in the highly competitive sector. “About a year ago, there were 300,000 employees, 25% of which have moved out of the sector in the last 12 months,” A Ramachandran, partner at search firm Ema Partners, said. More layoffs are expected as companies continue to merge. The Economic Times adds that staffing firms report that there has been a 35-40% increase in resumes coming in from employees in the telecom sector who want to exit the industry as soon as possible.

Source:: India – Over 75,000 layoffs reported in telecom sector in the last year with more expected (Economic Times)

      

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