Coronavirus Blights Expectations of Jobseekers
12 March, 2020
Young jobseekers will see their chances of landing a job narrowed even further as one in four conglomerates plans to cut back on new hires on the primary quarter of the year.
Another one-third even now have not decided on their hiring plans as the coronavirus outbreak weighs heavily over Korean businesses.
The Korea Economic Study Institute in Wednesday said it polled 126 of Korea's top 500 companies.
Nearly half of these have not made a decision whether to recruit latest employees or not. Around one-fifth said they'll slash hiring. Just a few said they will recruit more people.
The reason why they gave for difficulties hiring new staff were chiefly worsening financial and business conditions at home and abroad and their own straitened finances.
But KERI said the poll was conducted on Feb. 2 to 19, prior to the coronavirus epidemic grew to its current proportions, so more businesses could opt to cut back.
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