Amid the global uncertainties and layoffs, IT and tech companies are either skipping or rethinking college campus hiring. The bulk recruiters are facing a weak demand environment and an excess freshers’ bench.
Recently, Infosys Chief Financial Officer Nilanjan Roy said, “We continue to monitor the utilization and our flexi hiring model and at this stage of course we’re not seeing any immediate campus requirement.”
In the previous Quarter, the company said that it would skip campus hiring this year as it has a ‘way to go’ on utilization. However, it is monitoring the situation every quarter.
Headcount Drop in Q3FY24
Tech Mahindra reported a drop of 4,354 employees, the total headcount stood at 146,250. If you look at the Drop-in Headcounts in its peer companies Like TCS, Infosys, Wipro and HCLTech below is the data.
| Company | Q1FY24 | Q2FY24 | Q3FY24 |
| TCS | 6,15,318 | 6,08,985 | 6,03,305 |
| Infosys | 3,36,294 | 3,28,764 | 3,22,663 |
| Wipro | 2,49,758 | 2,44,707 | 2,40,234 |
| HCL Tech | 2,23,438 | 2,21,139 | 2,24,756 |
As per above data, IT market, and the hiring in IT companies have dropped.
Recently, a viral video claimed that a walk-in drive for the position of junior developer at an IT firm from Pune’s IT hub, Hinjawadi where nearly 3,000 engineers were seen outside a company seeking opportunities for interviews and jobs. Reportedly, for the interview, nearly 2,900 resumes were submitted.
A video was shared on social media platform X (formally Twitter), “How bad is the job market! 3000 people lined up outside an IT company in Hinjewadi, Pune for a walk-in drive to hire a junior developer.”
How bad is the job market!
— Ravi Handa (@ravihanda) January 25, 2024
3000 people lined up outside an IT company in Hinjewadi, Pune for a walk-in drive to hire a junior developer. pic.twitter.com/A3MzHYj41r
The user also said, “Yes – it used to happen 20 years ago. Yes – it used to happen 10 years ago. Yes – it is happening in 2024. It is sad. Not talking about the grim reality of millions of unemployed graduates is misleading. The video isn’t. The article isn’t. My text isn’t.”
The post has been viral and now and one user said, “Please understand the walking interview process of IT service-based companies before commenting on anything. In my time, for one such interview, I went for the interview at 6 AM, and my turn came at 8 PM. Don’t mislead people when you don’t know.”
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