A significant drop in hiring is expected in Hyderabad during the January- March quarter as the net employment outlook (NEO) and net business outlook (NBO) are down by six and one percentage points respectively.
NEO is the difference between the number of respondents reporting an increase in hiring and those reporting a decline. Likewise, NBO is the difference between the companies expecting better business and those that see it shrinking.
Addressing the media, staffing services company Teamlease Services general manager Sudeep Kumar Sen said Hyderabad was well below employment outlook index averages for five sectors. There was also no significant difference in hiring as employers were still cautious despite the improvement in the business outlook. Only IT and ITeS sectors were looking bright.
The NEO for the January-March quarter for Hyderabad dipped from 64 per cent to 58 per cent while the NBO was down to 79 per cent from 80 per cent in the previous quarter, according to a TeamLease report, which was released today.
The survey, which covered small, medium and large companies in eight sectors across eight cities in India, was carried out in December, when industries and political parties in Andhra Pradesh were waiting for the release of the Srikrishna Committee report on Telangana.
The general sentiment in the industry was subdued as companies have delayed their hiring and expansion plans waiting for a clarity on the separate state, it pointed out.
