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Firms are firing, but hiring too

Source: PTI
May 11, 2009 19:03 IST
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Trying to adapt to changing market requirements amid recessionary conditions, corporate giants including Microsoft, IBM and Yahoo Inc are not only cutting jobs but are at the same hiring people in other business units, a media report says.

"As layoffs mount, many of the same employers also are hiring - in other business units, in other places, or for other skills," the Wall Street Journal said in a report published online.

Microsoft Corp, International Business Machines Corp, AT&T Inc, Yahoo Inc and Time Warner are among the companies slashing some jobs, while adding other workers, it added.

The report stated that the simultaneous hiring and firing highlighted the dynamism of the economy and how employers are trying to adapt to changing needs.

"It also offers hints on how the recession is changing the work force, with some employers placing more emphasis on worker skills," it added.

Aviation giant Boeing Co cut over 3,000 jobs in the first four months of 2009, most from its commercial-airplanes unit as airlines deferred orders but it added 106 employees in its defence arm and is looking for more people.

Last week, the US Labour Department stated employers had eliminated 5,39,000 jobs in April, slightly fewer than in preceding months. 

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