Some reason for optimism
We have all been very nervous about the worldwide economic crisis and, to some extent, our industry has been impacted by it especially companies who had projects in the financial space in the US. However, last week I received calls from several companies in Karachi and Lahore and this is what they told me:
1. One company is looking to hire 30 top notch software engineers right away.
2. Another one is looking to increase its strength of software programmers from 50 to 100 over the next three months.
3. A BPO player is looking to hire between 100-150 people within the next 30 days because of new contracts signed in the US
4. A company in the mobile space is on the verge of signing two new significant export contracts.
All this is great news. That means our optimism that this recession could spell out new opportunities for companies in select expertise areas, was not far off the mark. This does not of course mean that we should be complacent. The financial tsunami is not going to be short-lived and many companies are facing and will face challenges in the next 12 – 18 month time frame. We will need to be prudent and will need to look for new opportunities in the domestic and export markets to ride out the crisis.
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