Bangalore: Nearly a month after Infosys said it had delayed its cooler in the shipment plan, instability in the economic environment and a possible slowdown in customer spending have forced another IT services firm to postpone dates union cooler.
Based in California, iGate, which has a majority of its staff in India and employs about 30,000 people, said outside the school did in 3000 offers all of India, joining dates of some 1,000 engineers will be delayed for one or possibly two quarters.
"The atmosphere in global demand remains weak. About 1,000 freshers, expected to join in July-August, will now join in late September or October," said Srinivas Kandula, head of human resources in iGate. "If the economic situation worsens, we will have to delay it for another quarter," he said.
iGate decision comes amid slowing growth of software companies in India, which depend on the U.S. and Europe for over 80% of their income. Last month, the country's second largest IT firm Infosys had said it would delay the dates of joining more than 25,000 engineers who hired the campus as late as mid-2013, a sign of how companies iT face project delays and weak economic sentiments in the U.S. and Europe.
"The economic environment may force companies to rethink. On the basis of the macroeconomic situation, we will decide when to send letters of appointment," said Kandula.
About 1.5 lakh campus offers were made by the top 10 IT companies through campus placements during August-September period last year. These top 10 companies represent about 70% of the offers, according to experts. TCS has made offers to over 43,000 freshers this year. Wipro, the country's third largest software exporter, said it does not release figures on campus for rent.
"Companies are very cautious and Tier-1 companies are still deciding whether to proceed with the original timetable. Delay in joining dates could be anywhere between 9 and 12 months," said Amitabh Das, CEO of recruitment consulting firm Vati. Das, however, said that compared to the 2008 recession, when the major technology companies cut their use of campus and tightened wage increases, hiring scene right now is much better.
IT firms campus recruitment plan based on expected demand for IT services and flows of the project. In 2010, major high-tech firms recruited two lakh employees, Infosys alone with nearly 40,000 hiring recruits on campus. Last year, TCS hired about 40,000 freshers, Cognizant and HCL 28,000 6,000.
According to the most important recruiters, some of the big IT companies, linking staggering the dates of freshers in the four quarters of the year, are taking less freshers on board in the current quarter than originally planned. They are postponing joining dates for the rest.
"The way companies recruit on campus support in the various lots is expected to change. A company that usually supports 10,000 freshers in the first quarter, you can now cut it short by 5,000," said C. Mahalingam, Executive Vice President and HR Symphony of service, an average of subcontractor product development firm that competes with firms such as iGate and other IT vendors in India.
However, the leaders of the placement of two known engineering colleges said they were yet to hear of any possible delay in hiring cooler. HCL Technologies and Wipro said it has not been any change in your schedule.
Based in California, iGate, which has a majority of its staff in India and employs about 30,000 people, said outside the school did in 3000 offers all of India, joining dates of some 1,000 engineers will be delayed for one or possibly two quarters.
"The atmosphere in global demand remains weak. About 1,000 freshers, expected to join in July-August, will now join in late September or October," said Srinivas Kandula, head of human resources in iGate. "If the economic situation worsens, we will have to delay it for another quarter," he said.
iGate decision comes amid slowing growth of software companies in India, which depend on the U.S. and Europe for over 80% of their income. Last month, the country's second largest IT firm Infosys had said it would delay the dates of joining more than 25,000 engineers who hired the campus as late as mid-2013, a sign of how companies iT face project delays and weak economic sentiments in the U.S. and Europe.
"The economic environment may force companies to rethink. On the basis of the macroeconomic situation, we will decide when to send letters of appointment," said Kandula.
About 1.5 lakh campus offers were made by the top 10 IT companies through campus placements during August-September period last year. These top 10 companies represent about 70% of the offers, according to experts. TCS has made offers to over 43,000 freshers this year. Wipro, the country's third largest software exporter, said it does not release figures on campus for rent.
"Companies are very cautious and Tier-1 companies are still deciding whether to proceed with the original timetable. Delay in joining dates could be anywhere between 9 and 12 months," said Amitabh Das, CEO of recruitment consulting firm Vati. Das, however, said that compared to the 2008 recession, when the major technology companies cut their use of campus and tightened wage increases, hiring scene right now is much better.
IT firms campus recruitment plan based on expected demand for IT services and flows of the project. In 2010, major high-tech firms recruited two lakh employees, Infosys alone with nearly 40,000 hiring recruits on campus. Last year, TCS hired about 40,000 freshers, Cognizant and HCL 28,000 6,000.
According to the most important recruiters, some of the big IT companies, linking staggering the dates of freshers in the four quarters of the year, are taking less freshers on board in the current quarter than originally planned. They are postponing joining dates for the rest.
"The way companies recruit on campus support in the various lots is expected to change. A company that usually supports 10,000 freshers in the first quarter, you can now cut it short by 5,000," said C. Mahalingam, Executive Vice President and HR Symphony of service, an average of subcontractor product development firm that competes with firms such as iGate and other IT vendors in India.
However, the leaders of the placement of two known engineering colleges said they were yet to hear of any possible delay in hiring cooler. HCL Technologies and Wipro said it has not been any change in your schedule.
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