Campus hiring for IT and tech has slowed down by 25% due to layoffs.
Experts and industry insiders report that the campus placement drive at India’s engineering colleges has been muted for the current placement session.
Even college placement cell members have been observing this trend. “The number of companies hiring for core tech roles has gone down, almost 20-25 per cent. This is alarming because many students sit in placements hoping to get a job at IT and tech companies,” a placement cell coordinator from a reputed engineering college in Delhi told Business Today.
While students from the current batch appearing for placements face tough competition as the number of companies hiring for tech roles has reduced, students from previous batches are still awaiting onboarding at companies despite having valid job offers from the last year.
Business Today has been reporting delay in onboarding at companies like TCS, Infosys, Tech Mahindra, Capgemini, Accenture, Mphais, LTI Mindtree, and others.