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Telecom sector faces large scale layoffs in 2017; job cuts to continue in 2018, says CIEL HR Services Report

January 16, 2018
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According to a report by CIEL HR Services, telecom sector will continue to witness job losses for the next six to nine months, taking the total number of job losses to 80,000-90,000.

According to the report, the telecom sector, which has been witnessing tough financial times in terms of profitability due to rising competition and lower margins, has witnessed large scale lay-offs making job scenario uncertain. It is based on a survey among around 100 senior and mid-level employees of 65 telecom, software and hardware service providers to telecom companies.

The report pointed that high cost of loan servicing, aggressive competition for market share, uncertainty of mergers among others have been hindering further investment by telecom operators resulting in layoffs. Further, the report said, salary hikes have been muted compared to other sectors and about 69 per cent got annual salary hike of 7 per cent, while almost one-third of them received less than 5 per cent hike.

The report also revealed that most people leaving their telecom jobs are seeking opportunities outside the sector. This trend highlights the fact that the sector is not recruiting unless it is a critical need that has to be filled by external talent. It added that 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.

The report estimates that 25 per cent of people leave or lose their jobs in the telecom sector without having another at hand. However, 69 per cent feel that they can find employment in other sectors. This situation points to the fact that skilled employees are quick to find jobs in other sectors, hence, the sector has to put additional measures to retain their top talent.

Going forward, the sector will begin to recruit, which will be mostly be freshers from campuses. However, there is likely to be 25 per cent reverse movement mostly comprising those who had gone into consulting or not with any employment.

 
 
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