This could place a strain on placement cells, which not only have to ensure all students are placed but also have to tackle the demand for high-paying jobs from students. Campus hiring in FY23 is expected to be around 2.3 lakh.įor now, campuses have to brace themselves for lower campus visits by enterprises. Campus hiring numbers (freshers) in the IT sector were 1.05 lakh in FY19, 2.08 lakh in FY20, 90,000 in FY21, and 6 lakh in FY22. He predicts hiring for FY2023 will be down by at least 40% to 50%.Īccording to Xpheno estimates, hiring this year could go back to the volume of FY20. A similar volume is not on the cards for the current and the next financial year, he cautions. After that, there has been a dip in the employment market, with companies not just slowing down recruiting but also laying off workers.Īccording to Prasadh, FY2022 saw a record intake of 6 lakh entry-level engineering talent by the IT industry-this was more than the collective annual intake from FY2017 to FY2021. “It is important to note that the reduction is only on a comparative scale to a highly buoyant FY2022 campus season,” says Prasadh.Įmployers increased their hiring across industries in 2021, and this trend persisted till the first half of 2022. However, the drop in hiring could be to compensate for the hyperactive hiring last year. Rahul S, a hiring manager at a Bengaluru-based firm, too concurs with this view. “The current scenario of enterprise layoffs and hiring slowdown will have its impact on hiring volume this campus season,” says Prasadh M S, Head of Workforce Research and Analytics at Xpheno, a specialist staffing company. Barring the premier institutes, such as the IITs and the NITs, fewer companies are visiting campuses and there are fewer jobs on offer too.Īccording to Sekhar Garisa, CEO of foundit, a job search platform, campus placement has weakened primarily due to the massive layoffs in the BigTech firms (Amazon announced a reduction of its global headcount by 18,000, while cuts at Meta, Google and Microsoft are 11,000, 12,000, and 10,000 respectively). Generally, campus placements in the final semester take place between January and May, and hiring in the current season, so far, has been subdued at numerous engineering colleges in the country compared to the last season. In fact, Sharma had smartly prepped for IT jobs with the help of his friends in the IT stream when he realised that there weren’t going to be too many mechanical engineering jobs in the offing.įor the lakhs of engineers graduating this year (about 15 lakh engineers are estimated to graduate every year in India), the ongoing campus placement season seems to be a period of challenges and uncertainties due to layoffs in the tech sector and the overall global economic scenario. Given the current job scenario, he is happy he has an offer on hand and isn’t too bothered that it isn’t in his chosen field of study. And Sharma is among the fortunate graduating students to have found immediate placement. The company was founded on Decemand is headquartered in Bengaluru, India.Sohilkumar Sharma (name changed), a final-year mechanical engineering student at K J Somaiya College of Engineering in Mumbai, has received a job offer from IT major Tata Consultancy Services at the ongoing campus placements.Ĭampus placements mark the culmination of a hectic four-year journey for engineering graduates. The ISRE segment is composed of IT services offerings to organizations owned or controlled by the Government of India and any Indian State Governments. The Information Technology Products segment offers a range of third-party IT products, which allows the firm to provide comprehensive IT system integration services. The Information Technology Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development, and hardware and software design to enterprises worldwide. It operates through the following segments: Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions.
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