Let's just say, 2009 will not be the year to take your job for granted.
With global recession spilling over to the emerging economies like India,companies are tightening their belts. Large corporates are making noises about'right' sizing, rationalisation and all of that translates into job cuts at theend of the day. Already, companies are not filling in vacancies and some haveeven announced plans to lay off a few hundred people.
The impact may vary but it will be across the board. Some sectors may beaffected more than others, for instance, export oriented and the service sectorindustries. But anticipate some amount of pain in manufacturing also since aslow down in domestic demand results in inventory pile-ups, production cuts andmanpower cuts.
As per some employment surveys, the next three quarters are expected to see asluggish hiring trend. Head hunters are also predicting that companies will onlyhire if absolutely necessary. What head hunters and corporates are happy aboutis the fact that salary expectations are now more realistic and a larger talentpool is available for the openings that do come up.
