India's outsourcing giants are slashing hiring and getting projects done with existing workers, a rare pullback that could weigh on the economy and affect engineering students who have seen information technology as the sector of choice for decades.
in April its annual revenue growth would hit a six-year low and refrained from its usual practice of setting a target of fresh hires at the start of the financial year.
"Normally, on-campus hiring is easier than off-campus. This year, that kind of flipped," said Gautam, an engineering student in Punjab state, who declined to be identified further. "Some people had their internship revoked or full-time revoked too due to cost-cutting." That has "surely left applicants concerned about future prospects", said staffing firm Xpheno's co-founder Kamal Karanth, who highlighted how current hiring activity was "under a third of what was recorded in the buoyant peak".Wipro did not directly address the accusations but said the environment was different from a year ago.
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