Subdued Hiring In Telecom, Automobile, Real Estate Due To Economic Slowdown: Teamlease
Once a crowded space with a dozen operators, India’s telecom industry has shrunk to just three players—Bharti Airtel, Vodafone Idea, and Reliance Jio. (Photographer: Dhiraj Singh/Bloomberg)

Subdued Hiring In Telecom, Automobile, Real Estate Due To Economic Slowdown: Teamlease

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Economic slowdown has resulted in reduction in hiring of talents in sectors like telecom and automobiles, staffing firm Teamlease Services said.

On the other hand, sectors like e-commerce and food tech have seen a spike or a continued demand of hiring new labour.

"That all jobs are not disappearing or all jobs are not reducing or all jobs are not on hold. There are specific sectors which are definitely impacted and we are seeing reduction in those sectors...Side by side there are other sectors where we are seeing a spike or a continued demand of hiring new labour," Rituparna Chakraborty, co-founder and executive vice president of Teamlease Services said.

Banking, insurance, e-commerce sectors continue to grow, while industries like telecom, automobile, real estate and construction have been subdued, she said. She was speaking during the launch of compliance cloud website (www.teamleasecompliance.com) and app Rulezbook.

The website, the company said, provides a comprehensive enterprise compliance solution covering over 1,000 Acts under seven categories. Information is sourced from over 2,000 regulatory websites daily to analyse and synthesise 2,500 changes per year, making a real time database.

The database incorporates all legal and compliance updates, tracking changes 15 times a day.

India's economic growth has slumped for the fifth straight quarter to an over six-year low of 5 percent in three months ended June as consumer demand and private investment slowed amid deteriorating global environment.

Also read: Q1 GDP: Even An Expensive Election Failed To Boost Growth

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