US recession to hit Indian jobs

Looks like difficult times are ahead. Another bubble burst????

Here’s one part of it:

IT companies will be the worst hit. “India as a product base will be in for a hard time,” says Manish Sabharwal, chairman, TeamLease Services. “In IT companies, we are bound to see a reduction in headcount and blunted wage acceleration over next two years.” Early signs of an impact in IT are visible. Says Vishal Chibber, head of HR at Kelly Services India, a staffing company and HR solutions provider, “The benchstrength in IT companies has reduced and in some cases, completely evaporated.”

And check out this…

Similarly, people graduating from engineering colleges already have deferred offers and your negotiating powers with employers are down if you have just 2-3 years of experience.

And this…

Adds Chibber, “India’s cost advantage as an outsourcing destination has eroded as salaries have risen. Countries like the Philippines, Indonesia and Ireland are more attractive in terms of cost.” But there’s a bright side too. Says E. Balaji, COO, Ma Foi Management Consultants, “While it is difficult to say in which direction the wind will blow, companies with captive centers in India are likely to raise their India headcounts.”

Boy!!! Leaves you with a positive outlook… Doesn’t it?

[ Source – TOI ]

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  1. US recession to hit Indian jobs

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