How many days will take to have HR round after finishing technical from legato health technologies?

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Usually same week.. If HIRING HR is avlb. and not on planned OOO..

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I am a contractor at legato. Manager says he cannot proceed with full time conversion of my role as their is a hold on hiring at legato due to upcoming recession. Is he saying correct? Or there some other reason. Should I wait for sometime or start looking new opportunities taking it as no.

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