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| Suzlon Energy defers recruitment plans till March | |
| Press Trust of India / New Delhi November 09, 2008, 18:04 IST | |
As companies in India and abroad defer their hiring plans, speculation is rife that wind power company Suzlon Energy, too, might be heading -- putting on hold recruitment plans.
Media reports suggested that the company may defer 15 per cent of its recruitment plans till March next year.
When contacted, a Suzlon spokesperson refused to comment. "We have no comment on whether the company has deferred its recruitment plans till March or not. We have no information about that. We cannot confirm this information."
Several companies have started laying off jobs or deferring hiring plans as they reel under the impact of the global financial crisis. Nucleus Software, an Indian It firm, has said that it would put on hold its recruitment plans till December.
Suzlon Energy is the biggest player in wind turbine business in Asia and the fifth largest worldwide.
With headquarters in Pune, it has several manufacturing sites in India including Pondicherry, Daman, Bhuj and Gandhidham as well as in mainland China, Germany and Belgium. The company is listed on the National Stock Exchange of India and on the Bombay Stock Exchange.
The energy experts say that the prospects of renewable-energy companies soared with oil prices moving northwards, but the fortunes have since reversed.
They say that with banks reluctant to lend and their stock prices tumbling, many green-energy concerns are struggling to find the long-term funding they need to expand in a capital-intensive industry.
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