Infosys delays / cancels campus visits: Campus Recruitment: Finance Trading Times

Infosys delays / cancels campus visits: Campus Recruitment

In a shocking news to thousands, infact, lakhs of students in several engineering colleges and MCA courses, Infosys Technologies today declared that it may have to delay or cancel the campus visits to several colleges across the country. The reason being quoted is that Infosys has put a freeze on fresh recruitments after meeting this financial year's target of hiring 25,000 people. This news will definitely sent chilling waves down the spine of thousands of aspiring students, as Infosys is considered to be a mass recruiter from campus programs. This will come as a big problem for fresh graduates, because Satyam has been busted for fraud, which was another major recruiter along with Infosys. TCS recently declared that it may go for layoffs and there is no concrete news from Wipro. All there 4 companies form the top recruiters of the IT sector in India. They are also known to be the mass recruiters, who reach to local colleges at interior places, and hence all these developments are going to mean bad news, bad situations for the students who are in final year and were looking for bright and high paying career in the IT industry. Infosys Logo
Recently, there was also news about Infosys Cutting Variable Pay, which is a major component of compensation or salary package for the employees.

Though the company has not yet come out with any news about any possible job cuts or layoffs, but this is something that can be worrying. This shows the trend in the IT industry atleast for the short term, this shows that clearly we are getting affected. This shows that there is no more demand for the skilled and low cost IT workers of India, and we are no longer shielded from the global recession that has hit hard the entire globe.

Any other news about Infosys?
As per Rediff, Infosys [Get Quote] chief executive officer and managing director S Gopalakrishnan said on Sunday that the company might consider taking some people towards the end of the second quarter of the financial year 2009-10. "There would not be any cut in the salaries. The top leadership of the company has already taken a 40 per cent cut in the variable pay," said Gopalakrishnan. During the boom and due to higher attrition rate, Indian IT companies hired engineering students a year before they graduated. But with the deal pipeline thinning, many of the companies have shifted to just-in-time hiring.
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