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HomeNewsIndustryFearing economic downturn, Indian tech majors Wipro, Infosys and Tech Mahindra revoke offer letters of freshers

Fearing economic downturn, Indian tech majors Wipro, Infosys and Tech Mahindra revoke offer letters of freshers

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The companies have sent emails in this regard to those students who were earlier issued offer letters after several rounds of interviews.

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Amid growing fears regarding the global economic slump striking back, top Indian tech majors including , and are reported to have revoked job offer letters rolled out to students. This comes shortly after these technology companies first delayed the joining date for these trainee engineers by over three-four months.

As per reports in BusinessLine, the companies have sent emails in this regard to those students who were earlier issued offer letters. According to the reports, the students received these offer letters after several rounds of interviews and a rigorous selection process.

“It has been identified that you are not meeting our academic eligibility criteria. Hence your offer stands null and void,” reads an email reportedly sent by Infosys to a candidate whose offer was revoked.

“… We cannot take your candidature forward as you have not been compliant to Wipro's assessment guidelines,” reads an email reportedly sent by Wipro

In another related news, NYSE-listed IT services provider EPAM Systems has asked around 100 Indian employees to resign. The company has also revoked offer letters of others who were about to join the firm over the course of the next few months, according to sources.

This comes as IT companies are facing macro headwinds as US banks are expected to cut tech spending while the world's largest economy is seen slipping into an impending recession. Last month, news reports claimed that HCL Tech had laid off nearly 350 employees working on a Microsoft project, suggesting that the project has gone to Accenture.

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Tech Observer Desk
Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
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