Slowdown in US & UK may impact B Tech Placements 2023 -24

B Tech Placements 2023: According to market buzz, IT companies may cut campus placements and entry-level recruitments by 20% in the next financial year 2023-24. IT companies have stopped new recruitment amid fears of an economic slowdown in the US and Europe. 

Many companies are also in the process of layoffs. Despite strong indicators in the software market, Indian tech companies are facing an exodus and declining margins. According to a report in the Mint, this can have an adverse effect on the hiring of freshers.

Last year more than 200 students of B Tech received job offers worth 1 to 2 Crores across campuses in India which were not just restricted to the IITs, NITs and IIITs.

Now, it is to be seen if that repeats this year too.  We hope it does.

According to the hiring projections by top IT companies of India, in the financial year 2022-2023, Infosys can offer jobs to 50,000, Wipro 30,000 and TCS 40,000 students from the college campuses. Tech Mahindra can recruit 15, 000 and HCL 45,000.

Delayed onboarding 

However, many students reported to us that jobs which were 6-8 months back by IT league of companies are yet to inform the students on their joining dates. Some students are slightly in a better position, they have joined but no projects were allocated to them and have been kept in ‘bench’. 

Many also reported in social media that offer letters were received six months back, but yet to receive any communication on the joining date. 

With job offers from big companies including Wipro, Infosys, and Tata Consultancy Services (TCS) , these tech graduates are now looking for other jobs as onboarding has been delayed by over six months. Seeing this atmosphere, the students of engineering college are very upset. They are worried that the delay in appointments could badly affect their upcoming campus placements.