MNC fin services cos don't 'walk the talk' on hiring

Foreign financial services firms go ‘gaga’ over the business growth prospects in India, at least publicly, but such optimism is not reflecting in their hiring locally compared to domestic players. Industry officials said these firms, mainly European, have frozen hiring for the moment, as debt woes continue to threaten the continent’s economic prospects. These firms are not hiring unless for a replacement, they said. A top official with a foreign investment bank said though India is among the markets that are driving business for these firms, lack of confidence in Europe is forcing bosses there to remain conservative about hiring even in India.