More Firing than Hiring in Automobile Sector

Leading job portal Times has stated that only 51% automobile companies are indicating that they will provide new job openings in this year. Many companies has indicated about firing their employees instead of new openings. Auto manufactures are not going to increase the salaries also by 10-15%. 33 companies has said about only 10% increment in the salary of their employees. Domestic auto sector is not going to provide new opportunities and sales of automobile companies and there are many reasons which has made negative impact on the sales.

According to another job portal only 51% companies are taking positive interest in new recruitment. Many companies are thinking about firing their employees instead of appointing new. According to a survey by job portal in 2012, there were 65% who gave new openings and now companies are thinking about their sale in new financial year. They have said that if there is new job opening then they will recruit accordingly.

Indian auto sector is passing through its tough time in this financial year and car market is at its minimum level of decade. New budget will decide about the next increment in sales as many auto companies like Hero Moto Corp, Honda and TVS etc finalizing their new openings.

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4th, Mar 2013 6:10 PM
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