Amid mounting cost pressures and a recession in key Western markets, Amazon India has postponed college hires' joining dates by six months.
Leading engineering colleges in India are concerned about the delays by one of its key recruiters, despite the company's assurances that it will handle the "financial impact" on students.
“In light of the challenging economic conditions, we’re delaying the start dates for some of our college hires by up to six months. We’re offering assistance to help address any financial impact. Amazon remains committed to university recruiting and developing the next generation of leaders and builders," Amazon said in response to an emailed query by Mint.
From numerous Indian Institutes of Technology (IITs) and National Institutes of Technology (NITs), Amazon is one of the top employers. IIT placement teams stated that they are examining how Amazon's decision will affect students. IIT placements normally begin in December.
Engineering universities will now contact Amazon for more clarification on their plans, according to those in the know. This year, campus recruitment could be more difficult. In light of their strong bench strength, decreased client orders, and lack of clarity over when the current recession will end, Indian IT businesses are likely to curtail campus employment by at least 40%. Approximately 155,000 engineering students from the class of 2024 are anticipated to be hired by IT companies, as opposed to 230,000 from the class of 2023, as reported by Mint.