Layoffs During Downturn Resulted In Record Number Of Job Applications From Corporate Professionals Preeti Kulkarni MUMBAI WHILE the Indian corporate sector seems to have shaken off the effects of the worst financial crisis the world has faced since 1929, recruitment activity in several sectors is yet to pick up speed. Non-governmental organisations (NGO) in India, however, are on a hiring mode, as memories of layoffs during the downturn has resulted in record number of job applications from professionals in the corporate world.