(MENAFN) Leading companies have gone for layoffs in 2016-17, according to Indian Express report. According to job data for 121 listed companies reveals net hiring in these companies have come down from 742,012 to 730,694. These companies, however, exclude IT and financial services sector, the report says. These companies are part of BSE 500 and numbers were available for the fiscal ended March 2017.
The data indicates that the decline of 11,318 employees span across sectors such as metal, power, capital goods, construction and FMCG among others.
Out of these 121 companies, data for the last three years is available for 107. It shows a net aggregate decline in headcount for the second consecutive year. While employee numbers stood at 684,452 at the end of March 2015, it came down to 677,296 at the end of March 2016. Subsequently, it was further down to 669,784 at the end of March 2017, accoridng to IE report.
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