Once the most growing sector, Telecom is on the edge as the upcoming six to nine months will be very challenging for it. Almost 50,000 more jobs are assumed to fade away from this sector. Since the start of 2017, the sector has witnessed a loss of 40,000 jobs and the further assumption of another 80,000 jobs may hit the sector very hard.
According to a report by CIEL, human resource services, the rapidly increasing competition between companies has declined their profit margin. The profit margin is one of the main reason behind the emergence of more jobs, although there is always a sense of uncertainty in the sector. The report by the company is based on a survey conducted by 65 technology firms and 100 employees.
“The attrition rate is like to remain high at least for the next two-three quarters and the sector is likely to reduce around 80,000-90,000 people,” the Bengaluru-based company’s chief executive Aditya Narayan Mishra told PTI.
“The telecom industry has lost its lustre and this negative sentiment is failing to attract any talent into the sector. The vacant seats continue to remain vacant with no fresh applications,” Mishra added.