TCS, Infosys, Wipro: IT Companies Postpone Onboarding of Over 10,000 Freshers, Details Inside

TCS, Infosys, and Wipro have delayed the onboarding process for more than 10,000 new hires. This article provides comprehensive details about the postponements and their implications for the freshers involved

P24 News Media

June 13, 2024

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Business

In a major setback for job seekers in India, leading IT companies including Infosys, Wipro, and TCS are delaying the onboarding process for thousands of fresh graduates. According to a Times of India report citing data from the Nascent Information Technology Employees Senate (NITES), over 10,000 freshers are left in uncertainty, awaiting their joining dates.

Harpreet Singh Saluja, president of NITES, reported numerous complaints from candidates who had been offered positions at top IT firms, including TCS, Infosys, Wipro, Zensar, and LTIMindtree.

This development coincides with a notable reduction in the combined workforce of TCS, Infosys, and Wipro, which decreased by approximately 64,000 employees in the financial year 2023-24.

As per the TOI report, Infosys has informed candidates that their dates of joining (DOJ) will be based on business needs, with notifications sent at least three to four weeks in advance. "We will allocate the DOJ (date of joining) based on business requirements and the DOJ will be sent at least 3-4 weeks prior to joining," stated the mail sent to candidates by Infosys.

This year, Infosys hired only 11,900 new graduates, a sharp decline from the 50,000 recruits in the previous fiscal year.

Wipro faces similar challenges, with Chief Human Resources Officer Saurabh Govil acknowledging that many offers made two years ago remain unfulfilled. He stated, "The year before last, we went to campus and made many offers. We are yet to honor those. We will finish those offers and then hire new freshers. We will induct freshers this year, but we cannot give a number as the macro environment is uncertain."

Krishna Vij, business head of IT staffing at TeamLease, noted that about 3-5% of freshers recruited by top IT services companies in 2022 have yet to start their roles. This delay is attributed to a lack of project visibility and a focus on ensuring candidates possess the necessary skills and job readiness.

Infosys posted a 30% year-on-year jump in net profit to Rs 7,969 crore for the fourth quarter ended March 2024. However, its revenues during January-March 2024 rose just 1.3% YoY to Rs 37,923 crore, compared with Rs 37,441 crore a year ago.

Wipro reported an 8% year-on-year decline in net profit to Rs 2,835 crore for the March 2024 quarter (Q4 FY24). Its revenue during January-March 2024 declined to Rs 22,208.3 crore, compared with Rs 23,190.3 crore in the year-ago period.