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Mass hiring is a result of the unemployment that took place during the first wave and the initial second wave. And I don't think this hiring is a replacement cycle, can be termed more as Expansion cycle because majority of the organisation and looking to expand their businesses, and hence, recruiting manpower.
I don’t think it will lead to mass firing, because jobs are there in the market cause of EXPANSION not REPLACAMENT!
But yes higher pay package holder will always be on top of list of replacement
What about this current trent of flood of job openings...i see few of the product and IT companies are now started to close like they had in August September......
Hiring flood will continue this year as well entire 2022
From the past trends, 2022 will also be good year for jobs...
At least first two quarters of 2022, the hiring is here to stay.
Mass firing ?! Absolutely not. Across big 4s (which I am aware of first hand) teams are being expanded and still there is plethora of work. So it’s natural expansion of teams (at least in consulting and Private Equity business) . Regarding pay, most of teams have given hike by increasing the base grade pay so that is also going to stay. Hope it keep thriving and diminishes slowly and natural.
Mass hiring may not result in layouts,instead the trend will be stabilised after few months and there might not be much hiring like this with these huge packages over next 3-4 years.