Talent freeze: CXOs picked, mid-level executives left out

From boardrooms to back offices, India Inc. is hitting the brakes on hiring. This time, it's not just about IT—mid-level managers are feeling the freeze, while top roles remain the only sure bet.

- Devina Sengupta

MUMBAI:

The crisis in the Middle East, poor visibility and business realignment as companies measure the impact of artificial intelligence have caused hesitancy in the job market. Slower hiring in India's private sector mirrors the overall increase in unemployment, driven by fewer rural jobs.

"There is a degrowth in many sectors in terms of headcount addition. When compared quarter on quarter, most of the sectors have shown an 18-20% dip in hiring mandates," said Guruprasad Srinivasan, group chief executive officer (CEO) of staffing firm Quess Corp. "The sectors are showing a kind of withdrawal symptom from hiring.