- Infosys, Wipro, and TCS have delayed onboarding for over 10,000 fresh graduates.
- Business uncertainty in North America and Europe is causing cautious IT spending.
- The delays affect job offers made in the last two years, with no definite joining dates provided.
Several Indian IT giants, including Infosys, Wipro, and TCS, have delayed the onboarding of over 10,000 fresh graduates. These delays affect candidates who received job offers in the last two years, leaving them without definite joining dates. The Nascent Information Technology Employees Senate (NITES) reports numerous complaints from these graduates, according to the Times of India.
Infosys has informed candidates that their joining dates will depend on business needs, with notifications coming 3-4 weeks in advance. In FY24, Infosys hired only 11,900 campus recruits, a 76% drop from the 50,000 hired the previous year. Wipro has yet to fulfill offers made two years ago. During a recent earnings call, Wipro’s CHRO mentioned that they will complete those offers before hiring new freshers, but couldn’t provide specific numbers due to an uncertain macro environment.
The delays are primarily due to business uncertainty in North America and Europe, where signs of a slowdown have made clients cautious about IT spending. Recent quarterly results from IT firms indicate a significant slowdown. In the last financial year, the combined headcount of TCS, Infosys, and Wipro decreased by nearly 64,000, a result of over-hiring during the pandemic.
Capgemini India’s CEO stated that they are still evaluating campus hiring numbers for this year and expect to moderate them. Last year, Capgemini India hired around 30,000 freshers from campuses. This trend of cautious hiring reflects a broader focus on productivity and efficiency without increasing headcount in the current business environment.
