After delaying their onboarding process for months, several IT businesses, including Wipro, Infosys, and Tech Mahindra, reportedly cancelled the offer letters of several candidates. Numerous freshmen who had accepted offers from IT firms reportedly had their offer letters cancelled after an onboarding procedure delay of about three to four months.
According to a recent Businessline report, IT companies Infosys, Wipro, and Tech Mahindra have cancelled offer letters made to students after months of delays in the onboarding procedure. Students report that three to four months ago, they submitted applications for positions at the biggest tech businesses. They awaited their onboarding procedure after receiving offer letters following several rounds of interviews. However, the IT companies months-long delay in the onboarding procedure.
The job letter for the students has now been cancelled, according to a letter they received. Students also report that the tech firms have cancelled their offer letters due to eligibility requirements and corporate policies.
“It has been identified that you are not meeting our academic eligibility criteria. Hence your offer stands null and void.” the Businessline noted.
The announcement that IT companies are postponing onboarding or withdrawing their offer letters coincides with rumours of a global IT industry slowdown. The rumour around town is that the availability of easy money for startups in the IT industry is dwindling as a result of the tightening money supply and rising interest rates globally. And all IT businesses, from recently launched startups to established tech behemoths, are being impacted by this.
Many businesses have frozen employment as a result of the challenging business environment. Even industry behemoths like Google, Facebook, and Microsoft have urged teams to make better use of the available resources while postponing new hires.
In terms of Indian IT enterprises, past studies indicated that these businesses were delaying the onboarding of new hires by three to four months. Additionally, several recent graduates wrote on social media sites like LinkedIn about the process’s delay.