India Hires While the Rest Fire

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Nov. 17 – At a time when the rest of the world is firing employees, India is hiring. Within the last week companies across the country announced plans to hire atleast 40,000 people. According to the Economic Times, Private insurer MetLife India is looking to recruit about 2,000 sales managers and a whopping 30,000 financial advisors in the coming months. Global management consultancy firm Deloitte Touche Tohmatsu is also looking to hire 3,500 employees in the country aiming to take the firm's total headcount to 12,000 in the next three years. Meanwhile the largest lender in the country, the State Bank of India also announced plans of hiring 25,000 employees in the year to March, the Press Trust of India reported.

Companies across the globe are axeing jobs. British Telecom, which has a significant offshore presence in India, has announced plans to cut 10,000 jobs by March next year but the company told the Economic Times its India operations would not be affected.

"The Indian operations would not see any retrenchment. The majority of the job cuts are UK based. It is too early to know country specific job cuts," a company spokesman said. Citigroup is also expected to cut 10,000 more jobs. India-born Vikram Pandit-led Citi has reduced its workforce by nearly 23,000 people in the first three quarters of this year. American IT major Sun Microsystems has also announced slashing 6,000 jobs. Adding to the gloom, another British major Royal Bank of Scotland is reportedly planning to reduce its headcount by 3,000, the Economic Times reported.