Marketing graduates 'likely to see recruitment freeze'

The ongoing economic downturn will result in a recruitment freeze which will affect recent marketing graduates, it has been claimed.

Hugh Burkitt, chief executive of the Marketing Society, told Marketing Week a halt in graduate recruitment in the industry was to be expected, e4s.co.uk reports.

He claimed those leaving university in the next two to three years with marketing degrees would be unfortunate.

"There are bound to be recruitment freezes and the big companies will suddenly stop their graduate programmes," Mr Burkitt said.

He added firms will likely extend their loyalty primarily to their existing staff, rather than new recruits looking for employment.

The government last night attempted to reduce the turmoil in the banking system by proposing financial support for institutions with the bid of boosting short-term liquidity and facilitating medium-term lending to individuals and businesses.

Additionally, the Bank of England today cut interest rates by 0.5 per cent in a coordinated move with the European Central Bank and US Federal Reserve in a bid to boost the economy.