India: Major IT companies revoke offer letters given to freshers

Amid fears of global recession, leading IT and tech firms in India like Wipro, Infosys and Tech Mahindra have revoked offer letters given to students, said reports. The joining of these previously selected candidates was delayed by nearly three-four months. According to reports, hundreds of freshers were given offer letters but first the joining of those candidates were postponed and finally, their offer letter was revoked.

The news was first reported by Business Line. The report quoted e-mails sent by these companies to candidates.

The offer letters were issued to students after rounds of interviews. The candidates went through rigorous selection process.

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"It has been identified that you are not meeting our academic eligibility criteria. Hence your offer stands null and void," one of the emails read.

There was no immediate reaction from the companies.

The global macroeconomic conditions, amid recession fears and rising inflation, have hit the Indian industries, and the IT/tech industry in the country is not immune.

Experts and market watchers predict that IT industry would face slowdown further.

TCS earlier postponed variable pay to its employees while Infosys reportedly slashed it to 70 per cent and Wipro deferred it completely.

According to a latest report by Naukri.com, the IT sector recorded a decrease of 10 per cent in hiring activity in August.

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