Most hiring by top cos came from 3 IT cos and 5 private banks

Mumbai: There is another pointer to consolidation in the corporate sector during the lockdown. Three IT giants and five private banks accounted for the bulk of the hirings by listed companies in FY21. Without these seven companies, overall hiring by listed companies would have seen a decline.

According to an analysis by Care ratings of the 423 companies that have published their annual reports so far, there was a very modest increase in employment by 1.6% in 2020-21 compared with 4.5% in 2019-20. “While it is lower, prima facie, the number gives a positive signal on employment. In terms of the net increase in employment, it was just 56,054.