Fewer layoffs foreseen in first half of 2023: Naukri survey

Recruiters foresee fewer layoffs in the first half of this year despite the uncertainties in the global market but say that senior professionals can see the maximum job loss.

According to a survey of 1,400 recruiters and consultants by job portal Naukri.com, only 4 per cent respondents predicted layoffs and downsizing not to be the dominant hiring activity in their organisations.

The survey of recruiters across 10 sectors said information technology roles will witness the maximum impact of hiring corrections.

There will be some impact in roles in the business development, marketing, human resources and operations fronts.

Senior professionals

“Recruiters foresee maximum layoffs for senior professionals… Freshers are expected to be least impacted by hiring corrections,” the bi-annual survey by Naukri.com said.

The survey said around half the recruiters expect high attrition rates of over 15 per cent during the first half of 2023, with IT roles to top the chart.

It said 92 per cent of the recruiters were optimistic about hiring in the first half despite the uncertainties in the global job market.

Nearly half of those surveyed expect new and replacement hiring, 29 per cent are looking at new job creation and 17 per cent hope to maintain their headcount.

Indian employees are expected to bag considerable increments, with more than a third of the total recruiters surveyed predicting an average increment of over 20 per cent, the survey said.

(With agency inputs)