IT SECTOR HIRING SLOWING DOWN ?

Infosys is delaying taking on board some of its planned 28,000 new recruits until mid-2103, underlining the slowdown faced by India's No 2 software services company, according to media reports on Monday. Engineering graduates who were offered jobs from campus placements between August and September last year have started to receive joining dates from September this year to as late as after mid-2013. "Based on business imperatives and manpower requirements, we expect onboarding of fresh hires to be completed by the first quarter of fiscal 2014 (which ends in June)," the report quoted Infosys as saying in an email. The company's financial year runs from April to March. Infosys, which is also listed on Nasdaq, disappointed investors in April with a weaker-than-expected revenue growth outlook due to an uncertain global economy. The result sparked worries about the prospects for the country's $100 billion outsourcing sector, which is facing slowing demand from western clients, intense competition from global rivals and volatile currency markets.