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Students of the Indian Institutes of Technology (IITs) in Delhi, Bombay, Kanpur, Madras, Kharagpur, Roorkee, Guwahati and Varanasi are bracing for a tough placement season. The placement season begins in December, amid a slowdown in the IT sector. The hiring freeze in many IT companies is likely to be a drag on hiring. Here are the key trends:
No more insulation from negative hiring trends
Usually, the premier tech institutes in the country are not much impacted by negative hiring trends.However, this year the tech slowdown has made placement cells at these colleges jittery. Many placement cells at these institutes have termed this year as one of the toughest placement season they have ever faced.
IT slowdown pinches
Several IT majors too are said to have announced a retreat from campus hiring. The names include e-commerce giant Amazon. Indian IT giant Infosys, in a rare declaration in October this year, said that it will altogether skip campus hiring this year. Indian IT industry leader TCS has said it will go slow on fresher hiring. India’s top three exporters —- TCS, Infosys and HCLTech — are likely to see a fall of nearly 50,000 in headcount this fiscal.
Funding winter continues
With funding winter continuing, there are also few offers from the startup sector. With an uncertain economic climate, startups also want to conserve cash and are going slow on hiring.
PPOs a savior for many
Many students reportedly bagging pre-placement offers (PPOs), in multi-crore figures, from high-frequency trading firms came as a relief. PPOs translate into jobs in hand for the students who accept them even before placements begin.
No more insulation from negative hiring trends
Usually, the premier tech institutes in the country are not much impacted by negative hiring trends.However, this year the tech slowdown has made placement cells at these colleges jittery. Many placement cells at these institutes have termed this year as one of the toughest placement season they have ever faced.
IT slowdown pinches
Several IT majors too are said to have announced a retreat from campus hiring. The names include e-commerce giant Amazon. Indian IT giant Infosys, in a rare declaration in October this year, said that it will altogether skip campus hiring this year. Indian IT industry leader TCS has said it will go slow on fresher hiring. India’s top three exporters —- TCS, Infosys and HCLTech — are likely to see a fall of nearly 50,000 in headcount this fiscal.
Funding winter continues
With funding winter continuing, there are also few offers from the startup sector. With an uncertain economic climate, startups also want to conserve cash and are going slow on hiring.
PPOs a savior for many
Many students reportedly bagging pre-placement offers (PPOs), in multi-crore figures, from high-frequency trading firms came as a relief. PPOs translate into jobs in hand for the students who accept them even before placements begin.
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