Is 2013 An Awful Year For Indian IT Grads?
Bangalore:The campus hiring of fresh engineering graduates in 2013 will continue to crash due to the slowdown in India's IT sector, said a report by Bank of America Merrill Lynch. The $100 billion IT industry is predicted to meet the lower end of 11-14 percent growth projection in 2012-13, as per software companies association Nasscom.
It is noted that campus hiring in 2013 is expected to be lower than 2012, just as 2012 followed 2011 recruitments. However, this isn’t surprising because big companies like Infosys have been postponing joining dates of new hires in the past, validating that India's admired IT sector is not faring well, reported Varun Sinha for NDTV.
Further, India's biggest IT software services exporter TCS plans to hire 25,000 freshers in 2013-14, while the number was 60,000 in 2012-13, which is a drop of nearly 60 percent in one year. The trend is predicted to be alike across big IT firms as well.
In the September quarter Wipro, India's third largest IT services exporter also saw a sharp fall of 6.5 percent in attrition. As per BofA-ML's report lower attrition and ambiguity in the market environment have additionally depressed the job market for new hires.
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