23 November,2009 07:53 AM IST | | Varun Singh
Corporates have let go over 50% of security guards eagerly hired after 26/11 due to budget issues
Security was the buzzword after last year's terror attacks. Everyone individuals, companies and corporates were on a let's-hire-security-guards spree.
u00a0
But now, a year later, security agencies reveal that the guards have been sent back and their agreement with the companies withdrawn.
u00a0
The bigger security agencies saw a rise of over 60 per cent and the smaller ones registered a growth of 80-90 per cent immediately after the attacks.
u00a0
However, with time, the companies felt that the guards were a burden on their budget, especially during the economic slowdown. This meant 50 per cent of the guards were withdrawn.
u00a0
Amar Sukhi, managing director, Security & Personnel Services Pvt Ltd, a leading security providing agency, said, "There was a sudden surge and in the similar way there was a decline too in the demand of the security guards after the attacks," said Sukhi.
Budget constraints
A real estate company in Lower Parel that had hired nearly two dozen security guards after the attacks withdrew them by mid-2009.
The reason that they gave to the service provider was budget constraints.
Gadgets in demand
This also meant that there was a demand for security gadgets like CCTV cameras, as they were perceived as one-time investments.
u00a0
Nilendu Mitra, senior vice president, corporate communications, Topsgrup, said, "There was a decline in the demand for guards some months after 26/11, but companies are more gadget savvy now and need guards who can handle such equipment."
According to Pramoud Rao, managing director of Zicom Electronic Security Systems, the trend of hiring guards and then withdrawing them happens after every terror attack.
Arms Licences
After the attacks, several security agencies put forward requests to the police for more arms licences. They believe that citizens feel safer when they see a guard with a gun in hand.
