Job loss predicted in Telcos
The Supreme Court in February has cancelled as many as 122 licences for 2G spectrum in a move that has resulted in uncertainty in the fast-growing telecom sector. As per the HR experts, the potential job losses in the Indian telecom industry are "enormous" in the wake of 2G licence cancellations.
Madhubala Vaidyanathan, General Manager (Services), TeamLease Services said, "Most of the companies whose 2G licences were cancelled are reducing their workforce. This is happening at all levels. Only people at key strategic positions are being retained. Potential job loss is quite enormous as the telecom industry was supposed to have provided thousands of jobs which would have done well for the economy."
Sunil Goel, Director, GlobalHunt said, "There could be potential job losses by looking at local market scenario for the telecom space. However, hospitality, FMCG, financial services and banking would be resource grabbing industries for ideal surplus resources from sales and marketing, customer service areas."
Jyorden Misra MD, Spearhead InterSearch said, New telecom companies that had hired actively to support their anticipated operational scale up, are facing the unexpected scenario of licence cancellations. This has brought an abrupt halt to any hiring plans in the offing. Existing companies have been adopting "cost rationalisation and efficiency optimisation approach" resulting in modest increments and moderate hiring plans."
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