Students who have got campus placements are left in the lurch, in the wake of corona virus outbreak in the country as some companies have begun to delay the job offers while others have withdrawn the job offers made by them. There are however, certain other companies that are ready to offer all the job offerings made by them. If the corona virus impact continues for few more months, it is expected that there could be severe job losses across various sectors both in India and around the world. The repercussions are explicitly observed in the employment process of every country, in the history of the world, whenever a worldwide economic crisis has been reported.
Many companies across the world have put hold on their placement process, in the light of rising concerns about the spread of Covid-19.As the pandemic is affecting businesses worldwide, colleges are likely to face a tough year ahead with disruptions in their campus recruitments. Between December and April every year generally, most business and engineering schools conduct campus placements .Some students of the current academic year are still struggling to find a good job offer, even though many of the students are already placed.
Few companies are however deferring the job offers made by them while some have already withdrawn the offers, owing to the prolonged lockdown to combat the Covid-19 pandemic. There are still companies also that are honouring the offers made to students and are promising not to cut any salary.
Most of the large companies that comprise of technology giants like Google, Wipro, TCS, Capgemini are honouring the job offers made by them to students despite the weak revenue outlook caused by the spread of the pandemic .Some banks and FMCG majors have also decided to go ahead and honour the job offers made by them to students.
In this fiscal, Cognizant has decided to bring on board 20,000 freshers. This is certainly good news for students but the company has also said in a statement that the on boarding dates of these new graduates will depend on several factors including the completion of the academic year of students and the impact caused on the business due to the ongoing lockdown.
Business is booming for ecommerce giants like Flipkart and it has assured its employees that it will not slash salaries and will onboard all the students selected by the company in its campus placements. Some of the companies like SAP, Morgan Stanley, PayPal, Citigroup, JP Morgan which are global firms with a large presence in India have assured employees that they there would be no significant layoffs even if the lockdown continues.
Sectors such as financial services and insurance (BFSI), retail, logistics (delivery)where a lot of frontline-hiring takes place are likely to witness delay in the offer made to graduates. This is because of the fact that some companies will now depend on technology as an alternate channel to move on with the same pace of productivity.
Recruiters, especially MNCs are revisiting their hiring plans and are either revoking or delaying the joining period of new joiners, with more countries closing borders and entering into indefinit.