These 5 sectors are brewing up plans to axe employees

Brace yourselves for waves of retrenchment.

According to Achieve Group's Hiring Trends Report, all companies surveyed were asked about their organization's projected business growth for 1H2013. 10% of respondents are expecting their business to contract while the majority are anticipating growth.

52% projected growth to fall in the range of 0% to 2% while 27% expect business to increase by 2% to 5%. The remaining 11% are looking forward to higher growth of more than 5%.

With this growth outlook, the survey also looked into the companies' hiring plans. The report classified the companies into nine main sectors, and here's what the report found out:

Property & Construction: 60% of those surveyed in this industry will be hiring while the remaining 40% will not.

Professional Services: 52% of the companies in the Professional Services sector intend to hire while 48% have no plans to expand their workforce.

Oil & Gas: In this sector, 55% will be hiring while 38% will not. The remaining 7% intend to cut staff.

Industrial manufacturing & Engineering: 49% of companies in this sector will be boosting their workforce and 44% will put a freeze on hiring. 7% intend to reduce headcounts.

Shipping & Logistics: In the Shiping and Logistics industry, 54% are planning to recruit while 44% are not. Only 2% will retrench.

Lifestyle, Retail & F&B: Exactly half of those in this sector will be increasing headcounts in 1H2013. 47% will freeze hiring and the remaining 3% will trim staff.

IT & Telecommunicatoins: In the IT & T sector, 60% intend to boost their workforce while 38% will not be recruiting and 2% plan to reduce their workforce.

Healthcare & Pharmaceutical: Just over half (51%) the companies in this sector are planning to hire more staff while 49% are not.

Banking & Finance: The slight majority (56%) of companies in the Banking & FInance industry said they would be hiring in 1H2013 while 44% of them are implementing a hiring freeze.

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