Different industries like IT, aviation, textile and financial services, are witnessing a trimming of their workforce to rein in costs but the Indian steel sector is still in a wait and watch mode. Till now, there have been no job cuts in the sector, but steel manufacturers like JSW Steel and Ispat Industries have frozen new recruitments for the time being. Mr. Anirudh Singh, senior VP- corporate HR, JSW Steel Ltd said, "We are not hiring people for the time being. We have hired a good number last month, but due to the slowdown, we have frozen new recruitments temporarily." On the other hand, Essar Steel Ltd has no plans to cut down on head count or salary package of employees as its salary to turnover ratio is minimal.
