Job offers revoked, IIT students find takers in IT and biotech firms

IITs have collectively written to all recruiters asking them to honour their offers

At a time when international companies like Gartner and Schlumberger India have revoked job offers made to students at Indian Institutes of Technology (IITs), the premier institutes have seen software and biotech companies jump in to salvage the situation.
 

These companies have come forward to make offers to students who have either seen their job offers being revoked or haven’t been placed yet.
 

With countries virtually shutting down amid the Covid-19 pandemic, recruiters, especially multinationals, are revisiting their hiring plans. This is throwing the placement processes of India’s top management and technology institutes into disarray.
 

Hence, US-based research and advisory firm Gartner revoked job offers made to several students at IITs and Indian Institutes of Management (IIMs). Oilfield services provider Schlumberger has either revoked offers or readjusted profiles at reduced packages at IIT Delhi, Bombay and Madras. On their part, IITs continue to remain in touch with recruiters across the board, especially requesting those who made the offers to not revoke them.

“There have been companies who are happy to interview students who have seen job offers being revoked. To date, only one company has withdrawn offer at IIT Madras. Another company withdrew offer but later made an offer with an alternative profile in a different section of the organisation,” said CS Shankar Ram, convener of the All IITs Placement Committee (AIPC) and placement advisor to IIT Madras.
 

According to A Rajakumar, chairperson – career development centre at IIT Kharagpur (KGP) – the trend has been a “positive sign”.
 

“No company has revoked offers at IIT KGP to date. However, there are some positive things also happening at the IITs. So far, software and biotech companies have been approaching and making offers, especially to students who may have seen revocation of offers. With the number of queries from recruiters coming in despite the lockdown, it is a positive sign,” said Rajakumar.
 

IIT Delhi, too, has seen a few students losing job offers made to them reportedly by the likes of Gartner and Schlumberger, though the institute is tightlipped about the names of companies. However, the institute is already in touch with recruiters to continue the placement process even amid the lockdown.

“Unfortunately, a few firms have revoked offers. Names of companies are confidential. The total numbers are currently in single digits. We are already speaking to recruiters and open to running processes for all who may wish to recruit,” S Dharmaraja, head, office of career services at IIT Delhi, told Business Standard.

In the wake of the job offers to students being revoked, IITs have collectively written to all recruiters under the aegis of the AIPC. They have been requested to honour their offers even as placement heads of each IIT are interacting with recruiters and alumni alike.

Moreover, while some IITs are contemplating taking the online route to continue the placement process for students who are yet to find offers, most of them are waiting for the lockdown to be lifted.
 

“Processes may be conducted online for now and in the normal mode if the recruiter so wishes after return of students to campus in July. Most recruiters are comfortable with online processes as well,” added Dharmaraja.

At IIT Madras, Ram said post lockdown, when the institute opens, the placement office is going to link students who are yet to get placed with companies.
 

“But we are going to approach all recruiting partners who would be willing to offer interviews. As such, from the second week of March to date, we have not had much placement activity. Meanwhile, all placement heads are in touch with companies regarding graduation dates of the outgoing batch as well as discussing solutions in case of revocation of job offers,” he added.