Hiring in IT industry slows down 40-50 percent

Indian IT Industry is witnessing a fall down in the rate of recruitment, a key indicator of the industry's growth. It is estimated that hiring on an overall basis is down by 40 to 50 percent compared to last year. Hiring across companies, especially the small and mid-sized, has entered into a lull with momentum certainly being downcast, reported The Economic Times.

Recruitment has taken a nasty blow during the last three months. Given the high dependence of the Indian IT industry on the U.S. economy, companies are increasingly taking a cautious route towards hiring. ........

Source : http://www.siliconindia.com/shownews/40256