Hyderabad: In a setback for engineering students and colleges in Hyderabad, the Indian multinational corporation, Wipro, is planning to reduce the hiring of freshers this year. This decision is a response to reduced spending by cautious clients.
The company’s initial focus is on onboarding individuals, including freshers, who were previously offered jobs.
Wipro, other IT companies are cutting back on hiring freshers
According to Bloomberg, Wipro’s Chief Human Resources Officer, Saurabh Govil, reported that the company, which hired 22,000 freshers who were recent graduates last year through March, plans to hire fewer new recruits this fiscal year. This will have a significant impact on engineering college students in Hyderabad.
It’s not just Wipro; other IT companies in Hyderabad and other metro cities in India, including Infosys, HCL Technologies Limited, and TCS, are also reducing freshers’ hiring this year.
Engineering colleges in Hyderabad saw 30 pc jump in campus placements in 2021
Infosys, which hired over 50,000 graduates in the last fiscal year, is unlikely to conduct campus placements in colleges through March 2024.
Hiring cut to impact Hyderabad engineering students
The cut in freshers hiring is expected to disproportionately affect Hyderabad students, one of the largest hubs of the IT sector and engineering colleges. Given that IT sector companies are known for hiring thousands of new graduates across India, this reduction is likely to impact the job market in the country.
The reduction in freshers hiring by IT companies is a consequence of current inflation and the aggressive hiring that occurred during the COVID pandemic when many countries outsourced work.
It remains to be seen how Wipro’s and other IT companies’ cut in freshers hiring will affect campus placements in various engineering colleges in Hyderabad and other Indian cities.