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<ul><li>While a lot of companies are doling out pink slips, there are a few that are keeping their promises to new campus hires. </li><li>IT giants like TCS, Capgemini, Google, Accenture and Wipro said that they will honour all their employment offers. </li><li>Hindustan Unilever (HUL), Biocon, Bain &amp; Company, PepsiCo and <keyword id="136162" type="COMPANY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword> will also bring new recruits onboard. </li><li>A selected few companies are onboarding new hires virtually. “We will go ahead and deliver a 100% signature HUL experience virtually. Projects which required extensive fieldwork were tweaked slightly,” Anuradha Razdan, executive director (HR), HUL told TOI.</li></ul>While a lot of companies are doling out pink slips to employees or cutting salaries, there are a select few that are keeping their promises to new campus hires even in difficult times. In this thin list are IT giants like TCS, Capgemini, Google, Accenture and Wipro who said that they will <a href="https://m.timesofindia.com/business/india-business/many-large-cos-will-honour-hiring-pledge/amp_articleshow/75130365.cms">honour all the job offers</a> rolled out earlier. TCS and Wipro are hiring over 40,000 graduates this financial year while <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> and Capgemini committed to bring all new hires onboard. According to a TOI report, Google is also bringing its fresh recruits onboard. It usually hires nearly 60 campus graduates every year in India. In February 2020, Cognizant announced that it will hire 20,000 ‘digitally ready’ freshers at an increased compensation of ₹400,000 per annum. But, given the current situation, the onboarding dates may vary because of the extended lockdown and completion of the academic programme. However, the promised ‘hike’ might be missing. Capgemini, on the other hand, <a href="https://www.businessinsider.in/careers/news/capgemini-and-cognizant-plan-to-hire-35000-freshers-in-india/articleshow/74173093.cms">rolled out over 4,000 offers to lateral hires</a> and offered 2,000 freshers in the quarter ending March. The tech giant is now planning to absorb all of them, the company told the Times of India. IIT freshers are not immune to Corona impact Even at the elite IITs, several companies postponed the joining dates, slashed salaries and are even considering revoking the job offers rolled out earlier. The institutes are now planning to conduct a second placement drive for those impacted by the withdrawals. Appealing to the recruiters, V <keyword id="168635" type="PERSON" weightage="20" keywordseo="Ramgopal-Rao">Ramgopal Rao</keyword>, director at the <keyword id="55119" type="COMPANY" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (IIT) Delhi <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">said</a> “These students are capable of getting you out of recession faster than you can imagine.” HUL, Biocon, Bain, Pepsi and BCG aim a stronger comeback Other than the IT giants, companies such as Hindustan Unilever (HUL), Biocon, Bain &amp; Company, PepsiCo and Boston Consulting Group are also hiring to come back stronger as the lockdown lifts. A selected few companies are onboarding new hires virtually. HUL already hired over 100 interns from the country’s top B-schools including Indian Institutes of Management (IIMs) and Narsee Monjee Institute of Management. “We said we will go ahead and deliver a 100% signature HUL experience virtually. Projects which required extensive fieldwork were tweaked slightly,” Anuradha Razdan, executive director (HR), HUL<a href="https://m.timesofindia.com/business/india-business/many-large-cos-will-honour-hiring-pledge/amp_articleshow/75130365.cms"> said</a>. Biocon will also onboard all its 250 new recruits. Megha Chawla, partner at Bain &amp; Company, told TOI that there won’t be an impact on campus hires as she anticipates a ‘solid bounce back’ once the lockdown is lifted. See also: <a href="https://www.businessinsider.in/careers/news/accenture-launches-people-work-connect-to-help-fired-employees-find-jobs/articleshow/75144624.cms">Accenture launches People+ Work connect to help fired employees find jobs</a> <a href="https://www.businessinsider.in/careers/news/over-136-million-jobs-are-at-risk-due-to-corona-lockdown-here-are-the-worst-hit-sectors/articleshow/74941658.cms">Over 136 million jobs are at risk due to Corona lockdown — Here are the worst-hit sectors</a> <a href="https://www.businessinsider.in/policy/economy/news/india-unemployment-job-losses-at-many-companies/articleshow/75130701.cms">India’s looming jobs crisis is starting to unravel within the first 21 days of coronavirus lockdown</a>

TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires

IIT will soon be setting up a full fledged department on design called 'The <keyword id="2626143" type="ORGANIZATION" weightage="20" keywordseo="School-of-Design">School of Design</keyword>' to nurture creativity. The proposal has already been approved by the <keyword id="1106942" type="ORGANIZATION" weightage="20" keywordseo="IIT-Senate">IIT Senate</keyword> and is likely to be placed before the Board of Governors later this month. The plan is to bring both technical aspects as well as those related to aesthetics and ergonomics closer. At the moment, the institute offers Master of Design but only has four faculty members for the course with a limited intake. Meanwhile, Courses offered at the proposed School of Design will include Bachelor of Design (BDes) which is a four-year-long course, and Master of Design (MDes) which is of two-year duration. In an interview to media, <keyword id="57604" type="CITY" weightage="20" keywordseo="iit-delhi">IIT Delhi</keyword> Director <keyword id="3272252" type="UNKNOWN" weightage="20" keywordseo="V-Ramgopal-Rao">V Ramgopal Rao</keyword> recently said - "Be it machines or gadgets, what is inside is what engineers design. But for instance, a phone, how should the case be, how should it look like, where and how the buttons should be, this is not something a technocrat can work better upon and there is a need for someone who specialises in product design." "For the BDes there is a separate entrance test in the country and we will be a part of it. Of course, for creative designs you cannot test one on concepts of Physics, Chemistry and Maths but on the ability of creative thinking which is not an engineer's domain," he added. "Once we have a full-fledged school of design, we will recruit more faculty for the Masters course and then start offering the Bachelor's degree," Rao said. "For the practical aspects, design students will work with engineers and design products which we will patent and commercialise in the longer run as we do for the technical projects," he further added. Presently, IIT Guwahati has a Department for Design while some others run few programmes.

IIT Delhi's 'School of Design' is going to be a centre to nurture young, creative minds

Marks, ranks and getting jobs are the sole motive of millenials. As much as all of these count significantly in determining the career graph of students, <keyword id="4358643" type="UNKNOWN" weightage="20" keywordseo="Dr-V-Ramgopal-Rao">Dr V Ramgopal Rao</keyword>, Director of one of India’s most premier institute Indian Institute of Technology, Delhi has some valuable mantras for students, mantras that are life-changing if you choose to follow them. 
 
He believes it’s important for them to focus on larger picture rather than just getting bogged down by low marks/ranks or over not getting a job. 
 
Coming from him, these 7 tips are the most valuable life mantras and they are as crucial as your academic performance: 
 
- Don’t just focus on placements and salary packages 
The dream for a student should never be to chase the best companies and the fattest salary packages, but to aim high with the right attitude. If you’re setting a goal, prepare yourself to become worthy of achieving it. 
 
- Learn as much as possible from the course you are pursuing and from the institute 
College life is when you inculcate good/bad habits and discipline that stays with you for life. The ultimate aim should not be to get over with a semester, but to learn as much as you can from textbooks, environment and your college life. Rote learning can only get you past exams, but real life learning can get you past the worst of obstacles lying ahead of you. 
 
- Make use of the opportunities that come your way 
It needs an eye to see the opportunities that come your way, and the willingness to tap them. If you are in a relaxed mood, the best of opportunities shall pass by you, and you wouldn’t even notice how you failed to identify them when they were easily available. 
 
- Enjoy the journey 
 Don’t lose the fun in journey by excessively focusing on destination. There’s more learning in how you achieved something in life than what you achieved. Let’s use an example - If you have a 3 day trip to Manali, you can enjoy the entire time if you realize that it’s just not getting to Manali that’s important but the way leading to it, alongside the beautiful river Beas, is in fact equally exciting. However you waste two days travelling if you fail to admire the beauty on the way and feel happy only to see the ice-laden mountains for that one day you spend up there. Every goal has a tough journey, and till the time you can enjoy that tough journey and learn from it, you cannot get to your destination. 
 
- Come up with ideas which can solve India’s problems rather than focusing on making a career in US 
Our economy is largely agrarian. If all the farmers today were to go abroad, what would happen to us? Where would we get the food that we eat? Not everything can be imported, right? They cannot afford to leave, but you can. However, think what a loss it is for people of this country if even one student educated in India is working abroad for MNCs. If we were to bring all of the back, India wouldn’t have stayed a developing country for long. 
 
- Nothing substitutes hard work 
There are no shortcuts to success. You work hard and you earn it. Nothing comes easy and what comes is not there to stay for too long! 
 
In the end, Mr Rao has to say – “At the end, this is just one beautiful life, make the most of it. Do what all you can, explore all the possibilities and opportunities, learn all through the way, and achieve your dreams.”

7 life-changing success mantras for Indian millennials, according to IIT Delhi Director Dr V Ramgopal Rao

Marks, ranks and getting jobs are the sole motive of millenials. As much as all of these count significantly in determining the career graph of students, <a href="http://www.businessinsider.in/IIT-Delhi-Director-Dr-V-Ramgopal-Rao-says-IITs-across-the-country-are-lagging-behind-in-innovation-and-research/articleshow/53299067.cms">Dr V Ramgopal Rao, Director of one of India’s most premier institute Indian Institute of Technology, Delhi </a>has some valuable mantras for students, mantras that are life-changing if you choose to follow them. 
 
He believes it’s important for them to focus on larger picture rather than just getting bogged down by low marks/ranks or over not getting a job. 
 
Coming from him, these 7 tips are the most valuable life mantras and they are as crucial as your academic performance: 
 
- Don’t just focus on placements and salary packages 
The dream for a student should never be to chase the best companies and the fattest salary packages, but to aim high with the right attitude. If you’re setting a goal, prepare yourself to become worthy of achieving it. 
 
- Learn as much as possible from the course you are pursuing and from the institute College life is when you inculcate good/bad habits and discipline that stays with you for life. The ultimate aim should not be to get over with a semester, but to learn as much as you can from textbooks, environment and your college life. Rote learning can only get you past exams, but real life learning can get you past the worst of obstacles lying ahead of you. 
 
- Make use of the opportunities that come your way It needs an eye to see the opportunities that come your way, and the willingness to tap them. If you are in a relaxed mood, the best of opportunities shall pass by you, and you wouldn’t even notice how you failed to identify them when they were easily available. 
 
- Enjoy the journey. Don’t lose the fun in journey by excessively focusing on destination. There’s more learning in how you achieved something in life than what you achieved. Let’s use an example - If you have a 3 day trip to Manali, you can enjoy the entire time if you realize that it’s just not getting to Manali that’s important but the way leading to it, alongside the beautiful river Beas, is in fact equally exciting. However you waste two days travelling if you fail to admire the beauty on the way and feel happy only to see the ice-laden mountains for that one day you spend up there. Every goal has a tough journey, and till the time you can enjoy that tough journey and learn from it, you cannot get to your destination. 
 
- Come up with ideas which can solve India’s problems rather than focusing on making a career in US Our economy is largely agrarian. If all the farmers today were to go abroad, what would happen to us? Where would we get the food that we eat? Not everything can be imported, right? They cannot afford to leave, but you can. However, think what a loss it is for people of this country if even one student educated in India is working abroad for MNCs. If we were to bring all of the back, India wouldn’t have stayed a developing country for long. 
 
- Nothing substitutes hard work. There are no shortcuts to success. You work hard and you earn it. Nothing comes easy and what comes is not there to stay for too long! 
 
In the end, Mr Rao has to say – “At the end, this is just one beautiful life, make the most of it. Do what all you can, explore all the possibilities and opportunities, learn all through the way, and achieve your dreams.”

7 success mantras for Indian millennials that are life- changing

Country’s premier educational institute, <keyword id="55119" type="ORGANIZATION" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (<keyword id="6354859" type="COMPANY" weightage="20" keywordseo="IIT">IIT</keyword>) Delhi is set to mentor 45 <keyword id="624" type="ORGANIZATION" weightage="20" keywordseo="Women">women</keyword> entrepreneurs across the country. This would be a three month program aimed at encouraging women of the country to undertake entrepreneurial leaderships. Explaining the focus on women, V <keyword id="168635" type="PERSON" weightage="20" keywordseo="Ramgopal-Rao">Ramgopal Rao</keyword>, director, <keyword id="6431668" type="ORGANIZATION" weightage="20" keywordseo="IIT-Delhi">IIT-Delhi</keyword>, told <keyword id="6405564" type="COMPANY" weightage="20" keywordseo="The-Times-Of-India">The Times of India</keyword> that "in spite of the fact that women entrepreneurs are more productive than men, there has been a decline in their presence and only 10% of all the start-ups are owned by them." 
 Dr <keyword id="6619" type="PERSON" weightage="20" keywordseo="Rao">Rao</keyword> added that due to several social constraints, many girls did not get admission into IITs. "It is because of this that we will work with several government agencies to incubate and nurture ideas to compensate for the poor presence of women on the campus," he said. "We want to remove this exclusivity of IIT and make it more inclusive." Women <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">Entrepreneurship</keyword> Empowerment (WEE) <keyword id="938746" type="UNKNOWN" weightage="20" keywordseo="Mentorship-Programme">Mentorship Programme</keyword>, as it has been named, didn’t has been co-founded by <keyword id="69969" type="PERSON" weightage="20" keywordseo="Sarandeep-Singh">Sarandeep Singh</keyword> and <keyword id="3686364" type="UNKNOWN" weightage="20" keywordseo="aparna-saroagi">Aparna Saroagi</keyword>. At the onset of the programme, the duo didn’t expect a hundred applicants, however, the number of women interested in it has crossed 2,500. 
 Pointing out that women contributed only 17% to the GDP because of their absence from the workforce, <keyword id="6358887" type="PERSON" weightage="20" keywordseo="Amitabh-Kant">Amitabh Kant</keyword>, CEO of <keyword id="2644759" type="UNKNOWN" weightage="20" keywordseo="Niti-Ayog">NITI Ayog</keyword>, told the <keyword id="6371459" type="ORGANIZATION" weightage="20" keywordseo="toi">TOI</keyword>, "If India manages gender parity, then we will see at least an increase of 1.4% in GDP." 
 
NITI Ayog chief believes that the women start-ups nurtured by IIT would bring about a discernible change in the business ecosystem, especially in north India. WEE has been divided into two groups: an entry-level ideas group engaged with start-up ideas, funding and mentoring from IIT and an accelerators' business model.

IIT
Delhi will mentor women entrepreneurs for three months

The Indian Institute of Technology (IIT) here is going to set up a <keyword id="6422364" type="UNKNOWN" weightage="20" keywordseo="space-technology">space technology</keyword> cell in collaboration with the <keyword id="116095" type="ORGANIZATION" weightage="20" keywordseo="Indian-Space-Research-Organisation">Indian Space Research Organisation</keyword> (ISRO). The announcement was made on Friday by IIT Delhi Director V Ramgopal Rao, a day ahead of the varsity's 50th annual convocation where ISRO Chief K Sivan will be the chief guest. "IIT Delhi is going to set up a space technology centre in collaboration with ISRO to contribute to the space technology research," Rao told reporters. With the move, IIT Delhi will join the league of other premiere institutions like IISc Bangalore, IIT Bombay, IIT Kanpur, IIT Kharagpur, IIT Madras, IIT Guwahati and IIT Roorkee where the Space Technology Cells (STCs) have been set up to play a major role in taking up the space technology research and applications to the newer heights.

IIT Delhi and ISRO are teaming up to research space technology

<ul><li>Indian Institutes of Technology (IITs) refused to be a part of the Times Higher Education (THE) World University Rankings. </li><li>This includes IIT’s seven campuses — Delhi, Mumbai, Chennai, Kanpur, Kharagpur, Madras, Roorkee and Guwahati. </li><li>This is because these older IITs are unsure of the parameters and transparency in the ranking process. </li><li>The development comes after the clashes between THE and <keyword id="61708" type="COMPANY" weightage="20" keywordseo="IIT-Bombay">IIT Bombay</keyword> when their international rank slipped further. </li><li>The university rankings featured only six Indian universities in the top 500. In fact, none of them made it to the top 300 universities list. </li></ul>India’s premier engineering institutions — Indian Institutes of Technology (IITs) refused to be a part of the Times Higher Education (THE) World University Rankings. This includes IIT’s seven campuses — Delhi, Mumbai, Chennai, Kanpur, Kharagpur, Madras, Roorkee and Guwahati. The older IITs are unsure of the parameters and transparency in the process. “Leading IITs i.e. IIT Bombay, IIT Delhi, IIT Guwahati, IIT Kanpur, IIT Kharagpur, IIT Madras and IIT Roorkee have decided to not participate in any of the Times Higher Education (THE) - World University Rankings this year," the IITs <a href="https://www.livemint.com/education/news/seven-top-iits-boycott-the-world-university-rankings-11587051969147.html">said in a joint statement</a>. However, they said that the decision would be reconsidered next year, provided the higher education ranking publication is able to reassure the institutions in India on their ranking procedure. The development comes after the clashes between THE and IIT Bombay when their international rank slipped further. IIT Bombay argued that the institute had not given any data for the evaluation, the last data they gave to THE for university rankings was for 2017. THE however said that they received the data. The university rankings featured only six Indian universities in the top 500. In fact, none of them made it to the top 300 universities list. This had happened for the first time in the last seven years — despite an increase in the number of Indian institutions featuring on the list. IIT Delhi’s director too said that they are making a significant contribution to the innovation system in the country. “If Delhi NCR has the highest number of tech startups/unicorns in India, IIT Delhi has played a role in it. If 14 of the 24 unicorns created by Indians are by the alumni of one single institution — IIT Delhi, then it is surely doing something right,” V Ramgopal Rao, director at IIT Delhi <a href="https://www.moneycontrol.com/news/business/economy/seven-iits-drop-out-of-participation-in-times-higher-education-rankings-2020-5155441.html">said last year</a> when <keyword id="1582424" type="PERSON" weightage="20" keywordseo="THE-Rankings">the rankings</keyword> came in. However, THE believes that the government needs to spend more on its educational institutions. “The Indian government has strong ambitions to boost the global standing of its top universities and attract foreign students, academics and research collaboration. It needs to back them up with high levels of investment and increasing global competition,” THE rankings editor Ellie Bothwell had <a href="https://www.businessinsider.in/only-six-indian-institutes-featured-in-top-500-on-the-world-university-rankings/articleshow/71095268.cms">said</a>. See also: <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a> <a href="https://www.businessinsider.in/careers/news/accenture-launches-people-work-connect-to-help-fired-employees-find-jobs/articleshow/75144624.cms">Accenture launches People+ Work connect to help fired employees find jobs</a> <a href="https://www.businessinsider.in/careers/news/capgemini-india-cognizant-and-others-who-are-giving-salary-hikes-in-times-of-coronavirus/articleshow/75151960.cms">Capgemini India, Cognizant and others who are giving salary hikes in times of Coronavirus</a>

Seven IITs boycott THE world rankings after IIT Bombay’s tiff with them

<ul><li>Indian universities rank almost as high as global universities in the engineering and technology domain. </li><li>According to the Quacquarelli Symonds (QS) World University Rankings by subject, Indian Institute of Technology (IIT) Bombay, Delhi feature in the top 50 for the first time. </li><li>Department-wise, IIT Bombay and Kharagpur rank at 41st and 66th for mineral &amp; mining engineering and IIT Delhi stood at 49th for electrical &amp; electronic engineering. </li><li>Overall, five Indian institutions ranked in the top 100 universities, compared to three last year. This includes IIT Madras, Kharagpur and Kanpur. </li></ul>Indian engineers are well known around the world. Now, its universities are being ranked high especially in the engineering and technology domain. According to the Quacquarelli Symonds (QS) World University Rankings by subject, India’s premier engineering institutions — Bombay and Delhi campus of Indian Institute of Technology (IIT) — have been ranked in the top 50 universities for the very first time. IIT Delhi ranked 44th while IIT Bombay crawled up nine spots to rank 47th in the global list. Department-wise, IIT Bombay and Kharagpur rank at 41st and 66th for mineral and mining engineering and IIT Delhi stood at 49th for electrical and electronic engineering. "It is a significant achievement of our premiere engineering institutions, which has made India proud. This is the result of continuous efforts of our government to promote the environment of research and innovation in our educational institutions," Human Resource Development (HRD) Minister Ramesh Pokhriyal 'Nishank' said. Overall, five Indian institutions ranked in the top 100 universities, compared to three last year. This includes IIT Madras, Kharagpur and Kanpur. "This is the result of the various measures we have taken in the institute on boosting the research ecosystem on the campus, strengthening our connect with the external stakeholders, significantly enhanced internationalization efforts from the institute and various other measures initiated in the last three years," IIT Delhi director V Ramgopal Rao told news agency PTI. This comes as good news to the Indian universities that were striving to make a mark, globally. Nearly 20 universities were ranked in the top 200 in the <a href="https://www.qs.com/rankings-revealed-qs-wur-asia-2020/">QS World University Rankings: Asia 2020</a> this year. However, the IITs — Bombay, Delhi and Madras campuses — did not make it to the top 30. The rankings suggest India’s strength in the natural sciences, life sciences, and in engineering disciplines, QS <a href="https://www.business-standard.com/article/education/india-improves-tally-in-top-100-qs-world-university-rankings-by-subject-120030401416_1.html">report said</a>. In Chemistry, 20 Indian universities have been ranked on the top, followed by computer science, physics, astronomy and biological sciences. Globally, Massachusetts Institute of Technology (MIT) emerged as the best-performing institution, followed by Harvard University and the University of Oxford, which was at the top for eight subjects. See also: <a href="https://www.businessinsider.in/careers/news/iits-iisc-and-amrita-vishwa-vidyapeetham-among-the-11-universities-in-the-emerging-economies-university-rankings-2020/articleshow/74201891.cms">IITs, IISc and Amrita Vishwa Vidyapeetham among the 11 universities in THE Emerging Economies University Rankings 2020</a> <a href="https://www.businessinsider.in/careers/news/amrita-vishwa-vidyapeetham-enters-the-top-100-in-the-rankings-for-the-very-first-time/articleshow/74202074.cms">Amrita Vishwa Vidyapeetham enters the top 100 in THE rankings for the very first time</a> <a href="https://www.businessinsider.in/careers/news/iit-delhi-partners-with-new-zealand-universities-to-boost-research-in-data-science-sustainability-and-healthcare/articleshow/74095473.cms">IIT Delhi partners with New Zealand Universities to boost research in data science, sustainability and healthcare</a>

IIT Bombay, IIT Delhi rank amongst world’s top 50 engineering colleges, as per the QS rankings

<ul><li>The global oil price crashing to a new low has cost Indian fresh graduates their jobs. </li><li>Energy major <keyword id="161205" type="COMPANY" weightage="20" keywordseo="Schlumberger">Schlumberger</keyword> revoked the job offers extended to the Indian Institute of Technology (<keyword id="6354859" type="UNKNOWN" weightage="20" keywordseo="IIt">IIT</keyword>) graduates. </li><li>Two of the selected graduates from IIT Kanpur and Madras have now been offered a similar role — but at a lower salary. </li><li>The oilfield services multinational said that it is adjusting to the ‘sudden reduction in consumer spending’. </li><li>This comes after the company announced its first quarter results for FY21 and said that it expects at least a 15% drop in customer expenditure globally. </li></ul>The global <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">oil price crashing</a> to a new low has cost Indian graduates their jobs. Impacted by the decline in oil demand due to <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> lockdown, energy major Schlumberger revoked job offers extended to the Indian Institute of Technology (IIT) graduates. The oilfield services multinational said that it is adjusting to the ‘sudden reduction in consumer spending’. The company had given job offers to candidates at least five IITs. On April 6, Schlumberger told IITs that it will reduce the intake of new campus hires, withdrawing a few internships and job offers. “We will personally communicate our decision to each student who is affected by this decision,” Indian Express <a href="https://indianexpress.com/article/education/energy-major-schlumberger-withdraws-job-offers-to-fresh-iit-graduates-6373375/">reported</a> citing the letter by Gautam Reddy, MD, India and Bangladesh at Schlumberger. IIT graduates bagged ‘above-average salary packages’ this placement season According to the report, two students at IIT Delhi and Bombay have lost their jobs at Schlumberger. While two other selected graduates from IIT Kanpur and Madras have now been offered similar roles — but at lower salaries. Given the current situation, it does not help that most of the IIT graduates bagged ‘above-average salary packages’ this placement season. IIT Kharagpur students also bagged a few offers from Schlumberger. “As on date, none of the offers were revoked. That was a generic email. We haven’t heard back from them,” Parag Deshpande, vice-chairperson, CDC at IIT-Kharagpur said. “As of now we have withdrawn the offers. If the business climate changes, we will be the first to reach out to those who have been filtered through the whole recruitment process,” Reddy added. ‘We have to take care of our employees first’ Reddy also <a href="https://indianexpress.com/article/education/energy-major-schlumberger-withdraws-job-offers-to-fresh-iit-graduates-6373375/">said</a> that employees across the top management have already taken a pay cut due to the Covid-19 crisis. “We have a longstanding relationship with the IITs. I am from IIT-Bombay. Recruiting from IITs is a continuous process for us. At this point in time, when we are doing business restructuring, it’s just not fair to our current employees. We have to take care of them first. It’s as simple as this.” During the <a href="https://seekingalpha.com/article/4338898-schlumberger-earnings-expected-trouble-may-still-be-afoot">first quarter results for FY21</a> the company said that it expects at least a 15% drop in customer expenditure globally and 40% in North America. It clearly indicates how disruption in supply chain, plant shutdowns and dropping revenues forced companies to rethink placements. Gartner rescinds 11 offers at three IITs With this, Schlumberger joins Gartner, the global research advisory firm to withdraw offers given to new hires. Gartner rescinded nearly 11 offers at IIT Delhi, Madras and Kanpur campuses last month. After that, V Ramgopal Rao, director at the Indian Institute of Technology (IIT) Delhi <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">appealed to recruiters</a> saying “a few months of delay may be fine. If at all, these students are capable of getting you out of recession faster than you can imagine.” The changed environment left these young minds stranded with no job at hand. The institutes are now figuring out ways to place the students whose offers have been revoked. They are even reaching out to their alumni network to place students in the less-affected sectors. On the other hand, IIT-Kanpur director Abhay Karandikar also <a href="https://indianexpress.com/article/jobs/iit-iim-job-offers-placement-season-coronavirus-outbreak-lockdown-6346524/">said</a> that the institute will arrange a dedicated placement drive in July-August for those students who have been affected by the withdrawal of offers. See also: <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">Crude oil prices didn’t fall below zero, futures did – and here’s what it means</a> <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">IIT and IIM job offers are fast vanishing and a second placement drive in July might be underway</a> <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a>

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TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires

Prerna Sindwani

IIT Delhi's 'School of Design' is going to be a centre to nurture young, creative minds

Anushree Singh

7 life-changing success mantras for Indian millennials, according to IIT Delhi Director Dr V Ramgopal Rao

Anushree Singh

7 success mantras for Indian millennials that are life- changing

Anushree Singh

IIT Delhi will mentor women entrepreneurs for three months

BI India Bureau

IIT Delhi and ISRO are teaming up to research space technology

PTI

Seven IITs boycott THE world rankings after IIT Bombay’s tiff with them

Prerna Sindwani

IIT Bombay, IIT Delhi rank amongst world’s top 50 engineering colleges, as per the QS rankings

Prerna Sindwani

Schlumberger revokes IIT job offers, lowers salaries after the massive crude oil price crash

Prerna Sindwani

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