- The new college graduates who landed job offers with ‘above-average salaries’ are now staring at an uncertain future.
- Ride-hailing platform Uber has revoked job offers extended to the management graduates at premier b-schools like Indian Institutes of Management (IIMs), Management Development Institute (MDI) and S. P. Jain Institute of Management and Research (SPJIMR).
- IITs — where students bagged job offers as high as ₹10 million from Uber — have not been notified of any such decision.
- As many as 3,700 Uber employees lost their jobs in wake of the coronavirus pandemic.
After Gartner, WorkIndia, ride-hailing platform Uber has revoked job offers extended to the management graduates at premier b-schools like Indian Institutes of Management (IIMs), Management Development Institute (MDI) and S. P. Jain Institute of Management and Research (SPJIMR).
This comes on the backdrop of global layoffs across the company offices. As many as 3,700 Uber employees lost their jobs in wake of the coronavirus pandemic. On May 13, the company told its employees that “today will be your last working day with Uber,” over a Zoom call, IANS reported.
A placement head at a top B-school told ET Uber had informed the institute that offers were being revoked. “Students across IIM Lucknow, IIM Kozhikode, IIM Calcutta, MDI, SPJIMR have been affected,” ET reported citing the placement head from a top b-school.
Several companies have rescinded job offers made to the fresh graduates.That leaves students of premier IIMs and other b-schools that secured thousands of offers, in dire straits. It does not help that most of them bagged ‘above-average salary packages’ this placement season. Most of the recruits were top-notch consulting firms, multinational companies, tech majors and more.
Lately, the IIMs have been dealing with last minute withdrawals from these high profile recruiters. IIM Bangalore earlier said that it will now reach out to those recruiters who had shown interest in hiring from the top institute earlier but were not a part of the placement drive — to check if they are still willing to hire candidates.
At IIM Calcutta, nearly four companies have revoked the job offers and summer internships so far, affecting over 12 students from the current academic year.
On the other hand, IITs — where students bagged job offers as high as ₹10 million from Uber — have not been notified of any such decision. The engineering institutions are now considering hosting another placement drive in July-August as the number of offers being taken back have risen.
A US-based consultancy firm recently repealed 11 job offers made to students at IIT Delhi, Madras and Kanpur campuses. The situation, the institutes are now figuring out ways to place the students whose offers have been revoked in other companies. They are even reaching out to their alumni network to place students in the less affected sectors.
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