Job market is looking up in 2010, especially in India. As more and more companies look for measures to cost cutting, more jobs are expected in Asia, India in particular because of the vast experience in service based industry, especially IT industry.

Last year, because of the recession, there were lot of layoffs, probably first time at this scale in India. Lot of dissatisfied employees in the companies are leaving their jobs and looking for new avenues. HR teams trying their level best to retain good talent but looks like the trend will continue for a while. Lot of companies are giving tons of incentives like bonus, mid term market correction etc. because of high attrition. This is especially surprising since there have been talks of double dip recession. Profit of the companies is also dipping because of higher salaries. This may eventually make Indian service industry especially IT industry uncompetitive as difference between US and Indian salaries reduce.