Synopsis
US tech giant Oracle has rescinded dozens of job offers extended to students at premier Indian engineering institutes, including IITs and NITs. This development, impacting both full-time and internship roles, has caused major anxiety among students as the placement season nears its end amidst a slow tech hiring market.Listen to this article in summarized format
The development, coming after recent mass layoffs at the company—one of the global leaders in enterprise software—aggravates concerns at a time when the placement season is nearing its end and hiring in the technology sector remains slow.
According to placement cells at several institutes, multiple offers for both full-time employees (FTEs) from the Class of 2026 as well as summer interns have been revoked by Oracle at IIT-Delhi, IIT-Kanpur, IIT-Kharagpur, IIT-Guwahati, IIT-Madras, IIT-BHU, IIT-Hyderabad, IIT-Roorkee, NIT-Warangal and MNNIT-Allahabad, among others. An affected student, Aditya Kumar Barawal, who took to LinkedIn to voice his concerns, cited “internal restructuring and headcount-related challenges” for Oracle’s decision.
Oracle had hired heavily, making up to 25-35 offers on some campuses for FTEs and summer interns. While the number of offers revoked range between two and five at each of the colleges ET spoke to, the sudden withdrawals have led to anxiety among students who are now scrambling for alternative opportunities in the fag end of the placement season. More than 50 offers are likely to have been revoked, estimated campus sources.
